The Nigerian Exchange Limited (NGX) has taken a significant step to deepen market liquidity by listing a massive tranche of new shares belonging to United Bank for Africa Plc. This move follows the bank's successful capital raising exercise and marks a pivotal moment for one of Africa's leading financial institutions.
Formal Listing of Rights Issue Shares
In an official communication dated January 12, 2026, the NGX confirmed the admission of 3,156,869,665 additional ordinary shares of UBA to its daily official list. The letter, signed by Godstime Iwenkehai, Head of the Issuer Regulation Department at NGX, detailed that the listing was effective from Monday, January 12, 2026.
The new shares resulted from UBA's recently concluded rights issue, where the bank offered one new share for every 13 existing shares held by shareholders. Each share, with a nominal value of 50 Kobo, was offered at a price of N50.00. The completion of this process and the submission of all required post-approval documents paved the way for the formal listing by the exchange.
A Major Boost to UBA's Capitalisation
Oliver Alawuba, the Group Managing Director of UBA, welcomed the confirmation from the NGX. He stated that the successful transaction is a clear indicator of robust investor confidence in the bank's financial health, corporate governance, and long-term growth strategy.
Alawuba emphasized that the fresh capital injection will be instrumental in fueling the bank's strategic ambitions. "The additional capital will further support our Pan-African and global expansion, and enhance our capacity to deliver sustainable value to all stakeholders," he remarked.
The financial impact of this rights issue is substantial. The exercise has injected an additional N158 billion into UBA's capital base. This comes after the bank raised N239 billion in 2024, which had increased its capital to N355 billion at that time. With the latest injection, UBA's total capital now stands at an impressive N513 billion.
Surpassing Regulatory Requirements and Market Implications
This latest capital raise carries crucial regulatory significance. The N513 billion capital base means that UBA now comfortably exceeds the N500 billion minimum capital requirement recently set by the Central Bank of Nigeria (CBN) for banks with international authorisation.
The listing of these new shares is expected to significantly enhance UBA's market capitalisation on the NGX. Furthermore, by increasing the number of shares available for trading, the action is poised to improve the stock's liquidity, allowing for greater investor participation and potentially reducing price volatility. This development strengthens UBA's position not only in compliance but also as a more formidable and liquid entity within the Nigerian and broader African capital markets.
