NGX Lists 3.156 Billion UBA Shares, Boosting Market Cap and Liquidity

The Nigerian Exchange (NGX) has officially listed an additional 3.156 billion ordinary shares of United Bank for Africa (UBA) Plc, enhancing the bank's market capitalization and deepening liquidity in the capital market. The confirmation letter from NGX, dated January 12, 2026, was signed by Godstim Iwenkehai, Head of the Issuer Regulation Department.

The listing follows the successful conclusion of UBA's recent rights issuance exercise. Olivier Alawuba, UBA's Group Managing Director and CEO, received commendation for the move, highlighting robust investor confidence in the bank's capitalization strategy and future prospects.

UBA raised a total of N239 billion in November 2024, elevating its capital base to N355 billion. The recent rights issuance injected an additional N158 billion, bringing the bank's total capital to N513 billion, surpassing the Central Bank of Nigeria's minimum capital requirement of N500 billion.