The Nigerian Exchange Regulation has confirmed the admission of an additional 3.16 billion ordinary shares of United Bank for Africa Plc to the Daily Official List of the local bourse.

In the confirmatory letter dated 12 January, which was signed by the Head of the Issuer Regulation Department at NGX, Godstime Iwenkehai, the additional share listing followed the conclusion of the bank’s rights issue.

The PUNCH reports that UBA has emerged as the latest lender to meet the new minimum capital requirement set by the Central Bank of Nigeria for banks with international operations, as its share capital crosses the N500bn mark. UBA achieved this feat at the conclusion of its N157.83bn rights issue.

The statement read, “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 on the basis of one new ordinary share for every 13 ordinary shares held was formally listed on the Daily Official List of Nigerian Exchange Limited on Monday, 12 January 2026,” Iwenkehai stated in the letter.

“With this listing, the total outstanding shares of United Bank for Africa Plc listed on NGX have now increased from 41,039,305,642 ordinary shares of 50 Kobo each to 44,196,175,307 ordinary shares of 50 Kobo each,” he added.

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who received the letter, commended the confirmation, noting that the move underscores robust investor confidence in the bank’s capitalisation strategy and future 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.

As of its Interim Unaudited Consolidated Financial Statements for the period ended 30 September 2025, filed with the Nigerian Exchange Limited, the combination of UBA’s share capital (N20.52bn) and share premium (N329.56bn) stood at N350.08bn. The addition of the proceeds from the rights issue brings the lender comfortably above the regulatory capital requirement.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. It operates in 20 African countries, the United Kingdom, the United States of America, France and the United Arab Emirates.