GTCO Becomes 1st to List its Ordinary Shares on the LSE
Guaranty Trust Holding Company Plc (GTCO Plc) (www.GTCOPlc.com), a leading and profitable Financial Services Group in Africa, has achieved a significant milestone in its growth and expansion strategy with the successful admission of its Ordinary Shares to the Equity Shares (International Commercial Companies Secondary Listing) category of the Official List of the Financial Conduct Authority (FCA) and to trading on the main market for listed securities of the London Stock Exchange.
This notable achievement positions GTCO Plc as the first Financial Services Institution in West Africa to dual list its Ordinary Shares on both the Nigerian and London stock exchanges. Subject to meeting specific criteria, the Shares are anticipated to be transferable between the two exchanges.
The admission follows the successful pricing of a fully marketed offering on the London Stock Exchange, which raised gross proceeds of $105 million. This was achieved through the issuance of 2.29 billion new ordinary shares in the company and was strongly supported by a high-quality, long-term institutional investor base.
Concurrently with the Offering, the Company announced its intention to cancel the listing of its existing GDRs from the certificates representing certain securities (depositary receipts) category of the Official List of the United Kingdom Financial Conduct Authority (“FCA”) and the admission to trading of these GDRs on the London Stock Exchange’s main market for listed securities.
Building on the momentum from the successful first tranche of its equity capital raise programme in July 2024, which secured ₦209 billion, GTCO plans to deploy the proceeds from the recent Offering to enhance its capital base, meet its recapitalization targets, and finance strategic expansion initiatives across high-growth markets and priority sectors both within and outside Nigeria.
Admission and unconditional dealing in the Shares are expected to become effective on or before 8:00 a.m. (UK time) on 9 July 2025 under the ticker symbol “GTHC”. Following the cancellation of the GDR listing, the Company intends to change the ticker symbol for the Shares from “GTHC” to “GTCO” and will issue a separate announcement regarding this change in due course.
Commenting on the LSE Listing, Mr. Segun Agbaje, Group Chief Executive Officer of Guaranty Trust Holding Company Plc, stated: “Today marks a major milestone—not just for GTCO, but for the future we see for African financial institutions on the global stage. We are incredibly proud to be the first Financial Services Institution in West Africa to list our ordinary shares on London Stock Exchange’s main market for listed securities, and even more honored by the trust placed in us by the investing community. For us, this was not just about raising capital. It was about validating the strength of our franchise, the clarity of our strategy, and the discipline with which we execute.”
He further added: “I would like to thank everyone who made this possible—our advisors and legal teams, our longstanding shareholders, the regulators both in Nigeria and in the UK, as well as the Nigerian government for creating an environment that supports our bold ambition and vision to be Africa’s leading financial services institution.”
GTCO’s fully marketed offering successfully attracted long-term institutional capital, reflecting investor confidence in the Group’s fundamentals, governance practices, and strategic outlook. This also signals improving market sentiment, bolstered by ongoing economic reforms implemented by the Federal Government and a return to traditional orthodox monetary policy by the Central Bank of Nigeria, measures which have significantly contributed to stabilising the macroeconomic environment and are gradually restoring investor confidence in Nigeria’s long-term prospects.
