UBA boosts capital as NGX lists over 3 billion new shares
United Bank for Africa Plc has increased its capital base after the Nigerian Exchange Limited listed more than 3.1 billion additional shares. The move follows a successful rights issue, which saw shareholders offered new shares at N50.00 each. Oliver Alawuba, UBA’s Group Managing Director and CEO, highlighted the listing as a sign of strong investor confidence. The bank now exceeds the Central Bank of Nigeria’s minimum capital requirement for international banks.
TLDR
- The Nigerian Exchange Limited officially listed 3,156,869,665 new ordinary shares of United Bank for Africa Plc.
- The listing was confirmed in a letter dated 12 January 2026 and took effect on Monday, 12 January 2026.
- UBA’s total outstanding shares rose from 41,039,305,642 to 44,196,175,307.
- The rights issue raised N158bn, adding to the N239bn raised in November 2024, bringing UBA’s capital base to N513bn.
- Oliver Alawuba said the additional capital will support UBA’s expansion and enhance value for stakeholders.
