Guaranty Trust Holding Co (GTCO) Plans London Listing to Raise Funds for Expansion and Innovation

Guaranty Trust Holding Co (GTCO) plans to list on the London Stock Exchange to meet Nigeria’s new capital requirements. The company aims to raise funds for GTBank Nigeria’s recapitalization, loan portfolio expansion, IT upgrades, branch openings, and acquisitions. GTCO completed a primary equity offering, raising $105m by issuing 2.29 billion new shares.

The shares were priced at N70.00 each, with 99.9% held by public investors. GTCO’s total issued share capital will reach 36.43 billion shares post-offering. GTCO Group CEO Segun Agbaje stated the London listing is a pivotal moment for the company’s growth and innovation, creating value for shareholders, customers, and stakeholders.

GTCO shares will trade on the LSE under the ticker “GTHC,” eventually transitioning to “GTCO.” They will also trade on the Nigerian Exchange Limited under “GTCO.” GDR holders can exchange for depository interests on the LSE or shares on the NGX. GTCO’s GDRs will continue trading under “GTCO” until the cancellation on 31 July 2025.

Read more at Yahoo Finance: Nigerian financial group Guaranty Trust targets London listing