UBA Rights Issue has captured investors’ attention, as they snapped up over 3 billion new shares listed on the Nigerian Exchange (NGX).
The bank priced each share at ₦50, offering one new share for every 13 held, which drove strong demand from shareholders.
Strong Shareholder Demand
Moreover, NGX confirmed the listing in a letter dated January 12, 2026, signed by Head of Issuer Regulation, Godstime Iwenkehai.
As a result, UBA increased its total listed shares from 41 billion to 44.2 billion, achieving a major milestone for the bank.
Shareholders applied for more shares than expected.
In fact, they requested over 4.13 billion shares, although UBA validated 3.57 billion applications, leaving 568.7 million as invalid.
Consequently, the bank raised ₦178 billion, pushing its capital past the ₦500 billion minimum required for Tier 1 banks.
Market Reaction And UBA Rights Issue Stock Surge
Following the announcement on January 7, 2026, investors immediately drove UBA shares from ₦43 to ₦45.20.
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Furthermore, month-to-date, shares rose 8.52% as of January 14, 2026, reflecting strong confidence in the bank’s growth strategy.
Financial Performance And Expansion
UBA also reported strong financial results, reinforcing investor trust.
For the first nine months of 2025, the bank posted a profit after tax of ₦537.5 billion and gross earnings of ₦2.5 trillion, thanks to a 10.1% increase in interest income.
In addition, customer deposits rose 8.7% to ₦23.8 trillion, while total assets increased 8% to ₦32.49 trillion.
Importantly, shareholders demonstrated strong support for the bank’s direction.
Heirs Holdings, chaired by Tony Elumelu, owns 5.15%, while UBA Nominees holds 6.27%.
As both major shareholder and Chairman, Elumelu continues to drive UBA’s regional expansion.
Overall, the successful rights issue and overwhelming applications strengthen UBA’s capital base, enabling the bank to expand confidently across Africa.
