GTCO Plc Lists Ordinary Shares On London Stock Exchange, Becomes First West African Financial Institution To Achieve Dual Listing

Guaranty Trust Holding Company Plc (GTCO Plc) has become the first financial services institution in West Africa to list and trade its ordinary shares on the London Stock Exchange (LSE).

The company’s ordinary shares were admitted to the Equity Shares (International Commercial Companies Secondary Listing) category of the Official List of the UK Financial Conduct Authority (FCA) and began trading on the LSE’s main market for listed securities.

GTCO’s listing follows the successful pricing of a fully marketed offering that raised $105 million through the issuance of 2.29 billion new ordinary shares. The offer was supported by long-term institutional investors.

With this dual listing, GTCO’s shares are now listed on both the Nigerian Exchange and the London Stock Exchange. Subject to certain conditions, the shares will be transferrable between the two markets.

The company also announced plans to cancel the listing of its existing Global Depositary Receipts (GDRs) on the LSE and delist them from the FCA’s Official List. It plans to change its trading symbol from “GTHC” to “GTCO” following the GDR cancellation.

According to GTCO, proceeds from the offering will be used to strengthen its capital base, meet recapitalisation targets, and support strategic expansion into high-growth markets and sectors within and outside Nigeria.

Group Chief Executive Officer of GTCO Plc, Mr. Segun Agbaje, said the listing reflects investor confidence in the company’s long-term strategy and growth prospects. He described the development as a major milestone for the company and for African financial institutions seeking global exposure.

GTCO is one of Africa’s leading financial services groups, with operations in banking, payments, asset management, and pension administration across eleven countries including Nigeria, the UK, and key African markets.