GTCO Plc Becomes First West African Financial Institution to List Shares on London Stock Exchange
Guaranty Trust Holding Company Plc (GTCO Plc), one of Africa’s leading and most profitable financial services groups, has marked a historic milestone by becoming the first financial institution in West Africa to list and trade its ordinary shares on the London Stock Exchange (LSE). The company’s shares have been admitted to the FCA’s Official List under the Equity Shares (International Commercial Companies Secondary Listing) category and are now trading on the LSE’s main market.
This groundbreaking achievement follows the successful pricing of GTCO’s fully marketed equity offering on the LSE, which raised $105 million through the issuance of 2.29 billion new ordinary shares. The offering was supported by a robust roster of long-term institutional investors, demonstrating strong confidence in the company’s growth prospects.
In conjunction with the listing, GTCO announced plans to delist its existing GDRs (Global Depositary Receipts) from the UK’s FCA Official List and to switch their trading to the LSE’s main market. The company intends that, subject to certain conditions, its shares will be transferable between the Nigerian and London exchanges.
Building on the momentum from its previous capital raise in July 2024, which garnered ₦209 billion, GTCO intends to utilize the proceeds to bolster its capital base, achieve its recapitalization goals, and fund strategic expansion initiatives across high-growth markets both within and outside Nigeria.
Trading on the LSE is expected to commence on or before 8:00 a.m. UK time on July 9, 2025, under the ticker “GTHC.” Once the GDR listing is canceled, the company will change its ticker to “GTCO” and will communicate this update in due course.
Commenting on the milestone, Mr. Segun Agbaje, Group CEO of GTCO Plc, stated: “Today’s listing is not just a milestone for GTCO but a testament to the growing strength of African financial institutions on the global stage. We are proud to be the first in West Africa to achieve this, and it reflects the confidence the global investment community has in our franchise, strategy, and disciplined execution.”
He added, “This achievement was only possible through the support of our advisors, legal teams, shareholders, regulators in Nigeria and the UK, and the Nigerian government, which continues to foster an environment conducive to our ambitions. The capital raised will enable us to accelerate our growth and deepen our presence across key markets.”
The successful offering underscores investor confidence in GTCO’s fundamentals, governance, and strategic outlook. It also signals positive market sentiment, driven by ongoing economic reforms in Nigeria and a return to orthodox monetary policies by the Central Bank, which have contributed to macroeconomic stability and improved investor confidence in Nigeria’s long-term prospects.