London Stock Exchange welcomes Guaranty Trust Holding Company Plc
The London Stock Exchange today proudly welcomes Mr. Segun Agbaje, Group CEO of Guaranty Trust Holding Company Plc (“GTCO Plc ”, or the “Group”), Board members and his leadership team to open the market, marking the 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 of the London Stock Exchange for listed securities.
The admission follows the successful pricing of its fully marketed offering (the “Offering”) on the London Stock Exchange to raise gross proceeds of $105 million in exchange for 2.29 billion of new ordinary shares in the company, which was supported by a strong book of high-quality, long-term institutional investors.
This historic achievement makes GTCO Plc the 1st Financial Services Institution in West Africa to dual list its Ordinary Shares on both the Nigerian Exchange and the London Stock Exchange, and subject to certain criteria, it is expected that the Shares will be transferrable between the two exchanges.
This is not GTCO’s first foray into international capital markets. The Group has previously accessed global equity markets through its Global Depositary Receipt (GDR) programme. However, this transition to a full Ordinary Share listing marks a bold new chapter—one that reflects the Group’s growing scale, firm strategic direction, and unwavering commitment to transparency and governance.
“Today marks a major milestone for GTCO Plc and represents a pivotal moment in its growth trajectory. The Primary Listing and Trading of our Ordinary Shares on the Main Market of The London Stock Exchange means that we are able to offer our shareholders the best of “both worlds”, reinforcing our position as a forward-thinking African Financial Services Institution. We are incredibly proud to be the 1st 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 said; “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.”
Segun Agbaje
Group Chief Executive Officer of GTCO
Building on the momentum of the successful first tranche of its equity capital raise programme in July 2024, which secured ₦209 billion, GTCO Plc will deploy the proceeds from the Offering to strengthen its capital base, meet its recapitalisation target, and fund strategic expansion across high-growth markets and priority sectors within and outside Nigeria.
Transaction Overview
- Instrument: Ordinary Shares (transitioning from Global Depositary Receipts)
- Offering: Fully marketed equity raise of US$105 million
- Admission: Secondary Listing under the FCA’s Senior International Standard
- Sole Global Coordinator & Bookrunner: Citigroup Global Markets Limited
About GTCO Plc
GTCO Plc is one of Africa’s leading financial services institutions with a longstanding track record of strong growth, service excellence, and shareholder returns. The Group operates across banking, payments, asset management, and pension administration in eleven countries, including Nigeria, the UK, and key African markets.
