Nigerian Exchange Limited (NGX) admitted 3.156 billion additional ordinary shares of United Bank for Africa (UBA) Plc to its Daily Official List on January 12, following the bank's successful rights issue at N50 per 50k share, deepening market liquidity and elevating capital base beyond CBN's N500 billion international authorisation threshold.
UBA Group Managing Director/CEO Oliver Alawuba hailed the listing as evidence of strong investor trust in the bank's strategy, noting the N158 billion raise – building on N239 billion from a 2024 public offer – now totals N513 billion to fuel Pan-African expansion across 20 countries plus the UK, US, France and UAE.
The listing, confirmed by NGX's Head of Issuer Regulation Godstime Iwenkehai, allocates one new share for every 13 held, supporting UBA's service to 45 million customers and 25,000 employees through retail, commercial and tech-driven banking.
Alawuba pledged the fresh capital would enhance stakeholder value and global reach.
