This is big! GTCO to Raise $100 Million in London Listing

• GTCO plans to rise $100 cardinal done a banal offering and volition database its shares connected the London Stock Exchange, moving distant from its Global Depositary Receipts (GDRs) structure.
• The offering aims to assistance recapitalize its banking affiliate, GTBank Nigeria, successful enactment with caller superior requirements acceptable by the Central Bank of Nigeria.
• GTCO besides reported a 61% year-on-year maturation successful nett aft taxation for the archetypal 4th of 2025, driven by beardown halfway net and a simplification successful its non-performing indebtedness ratio.

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Following the announcement of plans to rise astir $100 cardinal done a afloat marketed banal offering and determination distant from its existent Global Depositary Receipts (GDRs) structure, Guaranty Trust Holding Company Plc (GTCO) is scheduled to database its shares connected the London Stock Exchange.

Photo Credit: GTCO
Source: Getty Images

A study submitted to the Nigerian Exchange Limited (NGX) connected Thursday states that the offering is scheduled to adjacent connected July 3, 2025, having started connected July 2. On July 9, 2025, astatine 8:00 a.m., GTCO's communal banal volition beryllium admitted to the London Stock Exchange.

In keeping with this action, GTCO stated that it has requested to person its GDRs removed from the FCA's Official List and the Main Market of the London Stock Exchange. After the GDRs are cancelled by July 31, 2025, the institution volition alternatively database its communal shares straight connected the LSE nether the ticker codification "GTHC," which volition subsequently beryllium changed to "GTCO."

According to the company, the merchantability volition assistance recapitalise its banking affiliate, GTBank Nigeria, successful accordance with the caller N500 cardinal minimum superior request for overseas commercialized banks acceptable by the Central Bank of Nigeria.

“The nett proceeds of this offering volition beryllium utilized chiefly for the further recapitalisation of GTBank Nigeria and are intended to beryllium deployed successful accordance with GTCO’s maturation strategy,” the institution stated.

Segun Agbaje, GTCO's Group Chief Executive Officer, says the improvement is simply a turning constituent successful the company's growth.

“This offering and modulation to a afloat listing connected the Official List of the FCA and to trading of the company’s shares connected the London Stock Exchange’s main marketplace for listed securities represents a pivotal infinitesimal successful GTCO’s maturation story, reinforcing our presumption arsenic a forward-thinking African fiscal services institution,” Agbaje said.

He added,

“By enhancing our planetary visibility and entree to capital, we are not conscionable advancing our ain ambitions but besides unlocking transformative opportunities crossed the markets and lawsuit segments we serve.”

In July 2024, GTCO completed the archetypal tranche of its superior raise, securing N209 billion. The existent offering represents the 2nd tranche aimed astatine gathering the CBN’s March 2026 deadline.

GTCO besides disclosed that it delivered a nett aft taxation of N258 cardinal successful the archetypal 4th of 2025, representing a 61 per cent year-on-year maturation (excluding just worth gains), driven by beardown halfway earnings. The bank’s non-performing indebtedness ratio improved to 4.5 per cent during the play nether review, down from 5.2 per cent astatine the extremity of 2024.

GTCO president steps down

Legit.ng reported that Guaranty Trust Holding Company Plc (GTCO) has carried out a large shakeup, changing respective committee members.

This determination follows the status of 2 of its long-serving committee members who person been determination since the Holding institution was founded.

Hezekiah Oyinlola, the pioneer president of the holding company, has retired and volition present beryllium replaced by a erstwhile CBN lawman governor, Suleiman Barau.

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Source: Legit.ng