NGX Admits 3.15 Billion UBA Shares from Rights Issue to Daily Official List
The Nigerian Exchange Limited (NGX) has admitted 3.156 billion new ordinary shares of United Bank for Africa Plc (UBA) to its Daily Official List, following the successful completion of the bank’s recent rights issue.
In a notice to the investing public, NGX confirmed that the additional shares, each with a nominal value of 50 kobo, were listed after meeting all regulatory requirements. The admission became effective in mid-January 2026, marking a significant milestone in UBA’s ongoing capital-raising and recapitalisation drive. The newly listed shares arose from UBA’s rights issue, which was offered to existing shareholders on the basis of one new share for every 13 shares held, at an offer price of ₦50 per share. The exercise was widely regarded as successful, attracting strong shareholder participation and raising an estimated ₦157 billion in fresh capital. With the admission of the additional 3.15 billion shares, UBA’s total outstanding shares on the NGX have increased from about 41 billion to over 44 billion shares, a development expected to enhance liquidity and trading activity in the bank’s stock. Market analysts say the listing will deepen market capitalisation and improve price discovery for UBA shares, while also broadening investor participation. The move is also seen as strengthening the bank’s balance sheet at a time when Nigerian banks are working to meet the Central Bank of Nigeria’s (CBN) revised minimum capital requirements, particularly for institutions with international banking licences. UBA’s management has described the successful rights issue and subsequent listing as a reflection of strong investor confidence in the bank’s fundamentals, governance structure and long-term growth strategy. The additional capital is expected to support business expansion, digital banking initiatives and the group’s Pan-African operations across its markets. The development adds to a series of recent listings on the NGX, underscoring renewed activity in the equities market and continued efforts by listed companies to strengthen their capital positions amid evolving regulatory and economic conditions.
