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An additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc have been accepted by the Nigerian Exchange Limited (NGX) to its Daily Official List, indicating a significant increase in the bank’s market capitalization and strengthening of capital market liquidity.

This was recorded by the NGX in a confirmation letter to the bank dated January 12, 2026, signed by Godstime Iwenkehai, Head of NGX’s Issuer Regulation Department, who clarified that the extra shares were listed after UBA’s recent rights offering exercise concluded successfully.

“Please be advised that United Bank for Africa Plc’s Rights Issue of 3,156,869,665 ordinary shares of 50 kobo each at N50.00 per share on the basis of one new ordinary share for every 13 ordinary shares held were formally listed on the Daily Official List of Nigerian Exchange Limited (NGX) on Monday, January 12, 2026, following the submission of all post-approval documents,” Iwenkehai wrote in the letter.

Oliver Alawuba, Group Managing Director/CEO of UBA, who received the letter, praised the confirmation, pointing out that the action highlights strong investor trust in the bank’s capitalization strategy and prospects.

“We appreciate NGX’s official confirmation that our rights issue shares would be listed. Strong investor confidence in UBA’s financial health, governance, and growth strategy is demonstrated by this successful transaction. It is important to note that the extra funding will strengthen our ability to provide sustainable value to all stakeholders and support our Pan-African and worldwide expansion, according to Alawuba.

The bank raised N239 billion in November 2024, increasing its capital base to N355 billion at that time. The recently ended rights offering added an additional N158 billion, increasing the bank’s total capital to N513 billion.

With this most recent inflow, UBA’s qualifying capital base now exceeds the Central Bank of Nigeria’s (CBN) N500 billion standard, surpassing the minimum recapitalization required for banks with international authorization.

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