UBA lists Rights Issue on Nigerian Exchange
The Nigerian capital market has been officially notified of a significant development in the equities segment, as the United Bank for Africa Plc (UBA) successfully listed its Rights Issue on the Daily Official List of the Nigerian Exchange (NGX). The listing, which took effect on Friday, 23 May 2025, marks a strategic expansion of the bank’s share capital and further strengthens investor confidence in one of Nigeria’s foremost financial institutions.
Details of the Rights Issue
UBA’s Rights Issue involved the offering of 6,839,884,274 ordinary shares at N35.00 per share. This offering was made on the basis of One (1) New Ordinary Share for Every Five (5) Ordinary Shares held by existing shareholders as at the close of business on Tuesday, 5 November 2024. The offering provided an opportunity for shareholders to increase their holdings and further align with the bank’s long-term growth trajectory.
The new listing arises from UBA’s broader Rights Issue initiative, which originally comprised 34,199,421,368 ordinary shares of 50 Kobo each, priced at N35.00 per share. Through this capital raise, the bank sought to reinforce its capital adequacy, support its expansion strategies, and invest in technology and infrastructure that will enhance service delivery across Africa and beyond.
With the successful listing of the additional 6.84 billion shares, UBA’s total issued and fully paid-up share capital has now increased from 34,199,421,368 to 41,039,305,642 ordinary shares of 50 Kobo each. This substantial rise in share volume reflects the bank’s growing financial strength and increased investor appetite for its shares.
The listing underscores UBA’s commitment to deepening its capital base through sustainable, shareholder-inclusive means. By choosing the Rights Issue route, the bank not only preserved the equity interest of existing shareholders but also reaffirmed its transparency and alignment with regulatory best practices.
For the investing community, this development offers renewed opportunities to tap into the growth and profitability of one of Africa’s leading banks. The offer price of N35.00 per share positions the Rights Issue competitively within the market, offering value-driven potential in the context of UBA’s strong fundamentals, widespread African footprint, and robust financial performance.
Moreover, the successful subscription and listing signal a vote of confidence in the bank’s strategic direction, particularly in its digital transformation agenda and regional banking leadership. It also highlights the resilience and dynamism of the Nigerian capital market, demonstrating its ability to support large-scale equity transactions effectively.
UBA’s Rights Issue and its subsequent listing come at a time when Nigerian corporates are increasingly exploring capital market instruments to fund expansion, enhance operational capabilities, and drive shareholder value. As the market absorbs the new shares, analysts expect increased liquidity in UBA stock, deeper investor participation, and potential price movements reflective of enhanced confidence and future earnings expectations.
In summary, the listing of UBA’s 6.84 billion Rights Issue shares on the NGX marks not just a corporate milestone, but also a moment of deepened engagement between the bank and its shareholders. It signifies trust in UBA’s governance, strategy, and growth potential, and positions the bank for further success in both domestic and international markets.
As UBA continues to leverage its pan-African presence and digital innovation, stakeholders—shareholders, customers, and regulators alike—will be watching closely as this new phase unfolds. #UBA lists Rights Issue on Nigerian Exchange#
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