The 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, signalling a major enhancement of the bank’s market capitalisation whilst deepening liquidity on the capital market.

The NGX noted this in a confirmatory letter to the bank, dated January 12, 2026, and signed by the Head, Issuer Regulation Department at NGX, Godstime Iwenkehai.

It explained that the additional shares were listed following the successful conclusion of UBA’s recent rights issuance exercise.

“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 based on one new ordinary share for every 13 ordinary shares held were formally listed on the daily official list of NGX on Monday, 12 January 2026,” Iwenkehai reportedly said.

UBA’s Group Managing Director, Oliver Alawuba, who received the letter, commended the confirmation, noting that the move underscored robust investor confidence in the bank’s capitalisation strategy and prospects.

“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. Needless to say, the additional capital will further support our Pan-African and global expansion, and enhance our capacity to deliver sustainable value to all stakeholders,” Alawuba stated.

The bank had in 2024 raised N239 billion, which increased its capital base to N355 billion at that time, while the recently concluded rights issue has injected an additional N158 billion, bringing the bank’s total capital to N513 billion.

This latest addition means UBA’s qualifying capital base now surpasses the N500 billion requirement by the Central Bank of Nigeria (CBN).