The Nigerian Exchange Limited (NGX) has officially listed an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc on its daily official list, a move set to significantly enhance the bank’s market capitalisation and deepen liquidity in the capital market.

The listing follows the successful conclusion of UBA’s recent rights issue, where shareholders were offered one new share for every 13 held, at ₦50 per share. NGX confirmed the listing in a letter dated January 12, 2026, signed by Godstime Iwenkehai, Head of the Issuer Regulation Department.

“Following the submission of all post-approval documents, please be informed that United Bank for Africa Plc Rights Issue of 3,156,869,665 ordinary shares of 50 Kobo each were formally listed on the Daily Official List of NGX on Monday, 12 January 2026,” the letter stated.

UBA’s Group Managing Director/CEO, Oliver Alawuba, welcomed the listing, emphasizing that it reflects strong investor confidence in the bank’s governance, financial strength, and growth strategy. He noted that the additional capital will support Pan-African and global expansion, while enhancing the bank’s ability to deliver sustainable value to stakeholders.

The rights issue, combined with prior capital raises, has significantly strengthened UBA’s financial position. In November 2024, the bank raised ₦239 billion, increasing its capital base to ₦355 billion. The recent rights issue has injected an additional ₦158 billion, bringing UBA’s total capital to ₦513 billion—well above the ₦500 billion minimum requirement for banks with international authorisation, as mandated by the Central Bank of Nigeria (CBN).

The listing of these shares is expected to improve trading liquidity, bolster investor confidence, and reinforce UBA’s position as one of Africa’s leading financial institutions.