Nigerian Exchange Limited (NGX) has admitted an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc to its Daily Official List.
The exchange disclosed this in a confirmatory letter to the bank dated January 12 and signed by the head of the Issuer Regulation Department at NGX, Godstime Iwenkehai.
According to the letter, the shares were listed following the conclusion of UBA’s rights issue.
“Following the submission of all post-approval documents, please be informed 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,” Mr Iwenkehai stated.
Group managing director and chief executive officer of UBA, Oliver Alawuba, acknowledged receipt of the letter and welcomed the listing.
“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 support our Pan-African and global expansion and enhance our capacity to deliver value to stakeholders,” Alawuba said.
In November 2024, UBA raised N239 billion, which increased its capital base to N355 billion.
The rights issue added N158 billion, bringing the bank’s total capital to N513 billion.
The capital level exceeds the N500 billion minimum requirement set by the Central Bank of Nigeria for banks with international authorisation.
