Guaranty Trust Holding Company Plc has unveiled plans to raise $100 million through an equity offering and shift to a full listing of its ordinary shares on the London Stock Exchange. The move marks a significant step for the financial services group, aiming to enhance its capital structure and meet regulatory requirements.
The offering, initiated on July 2, is set to conclude on July 3, 2025, with the admission of GTCO’s ordinary shares to the London Stock Exchange scheduled for July 9, 2025. This transition involves canceling the listing of its Global Depositary Receipts and directly listing ordinary shares on the LSE under the ticker symbol “GTHC,” to be later changed to “GTCO” by July 31, 2025.
The capital raised will primarily bolster the recapitalization of GTBank Nigeria, aligning with the Central Bank of Nigeria’s new capital requirements for international commercial banks. GTCO’s Group CEO, Segun Agbaje, views this move as pivotal in the company’s growth journey, emphasizing the strategic importance of the offering in expanding the institution’s global reach and capital access.
Having completed the first tranche of capital raise in July 2024 and secured N209 billion, the current offering aims to meet the CBN’s stipulated deadline by March 2026. GTCO reported a robust financial performance in the first quarter of 2025, with a 61% year-on-year growth in profit after tax driven by strong core earnings and an improved non-performing loan ratio.
Segun Agbaje highlighted the transformative potential of the offering, not only in advancing GTCO’s objectives but also in unlocking growth opportunities across diverse markets and customer segments. The company’s strategic shift to a full listing on the London Stock Exchange underscores its commitment to innovation and sustainable financial practices.
Industry experts view GTCO’s move as a strategic play to enhance its global presence and strengthen its financial standing amidst evolving regulatory landscapes. By tapping into the London Stock Exchange, GTCO gains access to a broader investor base and heightened visibility in international markets, paving the way for future growth and expansion.
The decision to list on the LSE reflects a broader trend among African financial institutions seeking to leverage global capital markets for strategic growth and sustainability. GTCO’s initiative underscores the continent’s evolving financial landscape and the increasing importance of international listings in driving economic development and competitiveness.
In conclusion, GTCO’s quest for a $100 million capital raise and London Stock Exchange listing marks a significant milestone in its growth trajectory, signaling a new chapter in its evolution as a leading African financial services institution. The move not only strengthens GTCO’s financial position but also positions it for sustainable growth and enhanced market visibility in an increasingly interconnected global economy.
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