By JKNewsMedia
GUARANTY TRUST Holding Company Plc has cemented its place in financial history by becoming the first West African financial institution to directly list its ordinary shares on the main market of the London Stock Exchange (LSE).
The milestone follows the successful admission of its equity to the Official List of the UK’s Financial Conduct Authority under the Equity Shares (International Commercial Companies Secondary Listing) category.
The dual listing marks a turning point for GTCO Plc, already recognised as Africa’s most profitable financial services group.
The company said it executed a fully marketed offering valued at $105 million, issuing 2.29 billion new ordinary shares to a strong base of high-quality institutional investors.
Subject to final criteria, the shares are expected to be transferrable between the Nigerian Exchange and the LSE.
The move builds on GTCO’s initial equity capital raise in July 2024, which secured ₦209 billion. Proceeds from the latest offering will support the bank’s recapitalisation strategy, strengthen its balance sheet, and fuel expansion across high-growth markets and critical sectors both within and beyond Nigeria.
The listing on the London Stock Exchange will become effective on or before 8:00 a.m. (UK time) on 9 July 2025 under the ticker “GTHC”.
Following the cancellation of its Global Depositary Receipts, the company intends to change its trading symbol to “GTCO”, with a formal announcement expected.
Guaranty Trust’s Group Chief Executive Officer, Mr Segun Agbaje, described the listing as a defining step towards the Group’s global ambitions.
He emphasised that beyond capital, the offering reaffirms the institution’s strategy, credibility, and disciplined execution, backed by broad investor confidence.
The delisting of GTCO’s GDRs, effective 31 July 2025, follows a strategic reassessment based on low trading volumes. Initially listed on 1 July 2021, the GDRs will have their final trading day on 30 July 2025.
The bank stated that direct share trading is more aligned with its long-term goals and will likely enhance liquidity while simplifying access to future international capital.
It also hinges on the market sentiment surrounding the transaction which reflects growing confidence in Nigeria’s economic direction, underpinned by monetary policy stabilisation and recent reforms by the Federal Government and the Central Bank of Nigeria.
The bank notes that with the LSE admission, GTCO has set a precedent for regional peers aiming to raise capital globally while remaining anchored in local markets.
The Group described the listing as a validation of its strategy, discipline, and strength, and thanked regulators in Nigeria and the UK for enabling the achievement which marks a milestone not only for Guaranty Trust, but also for the broader African financial landscape as it reaches into global capital markets with increased credibility and ambition.
