NGX has confirmed listing of 3.156 billion UBA shares with the aim of deepening liquidity and market capitalisation.
NewsOnline Nigeria reports that the Nigerian Exchange Limited (NGX) has confirmed the listing of 3.156 billion additional ordinary shares of United Bank for Africa (UBA) Plc, a move expected to significantly boost the bank’s market capitalisation and improve liquidity on the Nigerian capital market.
In a letter dated January 12, 2026, and signed by Godstime Iwenkehai, Head of the Issuer Regulation Department at NGX, the exchange said the new shares were listed following the successful completion of UBA’s recent rights issue.
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According to the letter, the 3,156,869,665 ordinary shares of 50 kobo each, priced at N50 per share and offered on the basis of one new share for every 13 held, were officially added to the NGX Daily Official List on Monday, January 12, 2026.
Reacting to the development, UBA Group Managing Director and Chief Executive Officer, Oliver Alawuba, said the listing reflects strong investor confidence in the bank’s strategy and financial outlook.
“We welcome the formal confirmation from NGX on the listing of our rights issue shares. This successful transaction reflects strong investor confidence in UBA’s financial strength, governance, and growth strategy. The additional capital will further support our Pan-African and global expansion, while enhancing our ability to deliver sustainable value to all stakeholders,” Alawuba said.
The bank had earlier raised N239 billion in November 2024, lifting its capital base to N355 billion at the time. With the latest rights issue injecting an additional N158 billion, UBA’s total capital has now climbed to N513 billion.
This places the lender well above the Central Bank of Nigeria’s N500 billion minimum capital requirement for banks with international authorisation, strengthening its position ahead of the ongoing banking sector recapitalisation.
UBA is one of Africa’s largest financial institutions, employing over 25,000 staff and serving more than 45 million customers worldwide. The bank operates across 20 African countries as well as in the United Kingdom, United States, France and the United Arab Emirates, offering retail, commercial and institutional banking services with a strong focus on financial inclusion and digital innovation.
