Guaranty Trust Holding Company Plc, commonly known as GTBank, has made a strategic move by announcing its plan to raise around $100 million through a listing on the main market of the London Stock Exchange (LSE). This decision is part of the bank’s efforts to enhance its global presence and comply with new capital requirements set by the Central Bank of Nigeria. Based in Lagos, GTBank is a prominent financial institution in West Africa, with diverse subsidiaries in banking, insurance, asset management, and fintech.
Previously recognized primarily for its Nigerian banking arm, GTBank has restructured itself into a holding company to drive growth across African and international markets. The bank is currently listed on the Nigerian Exchange Group and was also part of the Global Depositary Receipts (GDRs) segment of the LSE until recently.
The move to issue new ordinary shares on the LSE is aimed at reinforcing the equity of its Nigerian subsidiary, GTBank Nigeria, following the CBN’s directive to increase minimum capital requirements for banks. To meet these regulations, GTBank had already raised a substantial amount last July. The proceeds from the London listing will support the bank’s long-term growth strategy and complement its existing capital base.
The shares will be offered to institutional investors in the UK, US, and other jurisdictions, with Citigroup appointed as the lead manager for the fundraising process. The listing on the LSE is scheduled for July 9, 2025, with plans to withdraw the GDRs by the end of the month. Segun Agbaje, the CEO of GTBank, views this listing as a significant milestone in the bank’s journey towards becoming a key player in African financial services.
Agbaje emphasized the bank’s strong performance, disciplined execution, and customer-centric approach as key factors driving its growth trajectory. He sees this listing as an opportunity to enhance international visibility, access capital, and explore transformative opportunities in the markets and customer segments served by GTBank.
By expanding its presence on the London Stock Exchange, GTBank aims to position itself as a leading financial services provider across Africa and beyond. The bank’s move to strengthen its equity base and comply with regulatory requirements underscores its commitment to sustainable growth and innovation in the banking sector.
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