Guaranty Trust Holding Co (GTCO), a Lagos-based banking group, announced plans for a listing on the London Stock Exchange’s main market. 

The move is aimed at enhanced global visibility and compliance with the Central Bank of Nigeria’s (CBN) new capital requirements.  

The CBN mandates a minimum capital of N500bn ($327.2m) for banks like GTBank Nigeria, a subsidiary, by 31 March 2026.  

The net proceeds from the London listing will primarily support GTBank Nigeria’s recapitalisation and align with Guaranty Trust’s growth strategy.  

Specifically, the funds will help the company in expanding its loan portfolio, upgrading IT systems, opening new branches, and pursuing “selective bolt-on” acquisitions. 

Admission to the LSE main market is expected on 9 July, with Citigroup as the sole global coordinator and bookrunner.  

The company also plans to cancel its existing global depositary receipts listing on the LSE by 31 July. 

GTCO has completed a primary equity offering on the London Stock Exchange, securing $105m by issuing approximately 2.29 billion new ordinary shares, as per a company statement on 3 July.  

The shares were priced at N70.00 Naira each. Post-offering, GTCO’s total issued share capital will reach 36.43 billion shares, with about 99.9% held by public investors. 

This follows GTCO’s fundraise of N209bn in July 2024. 

GTCO Group CEO Segun Agbaje said: “This Offering and transition to a full listing on the Official List of the FCA and to trading of the Company’s shares on the London Stock Exchange’s main market for listed securities represents a pivotal moment in GTCO’s growth story, reinforcing our position as a forward-thinking African Financial Services Institution. This move builds on our tradition of “many firsts” and innovation, as we continue to create exceptional value for our shareholders, customers, and broader stakeholders.  

“By enhancing our global visibility and access to capital, we are not just advancing our own ambitions but also unlocking transformative opportunities across the markets and customer segments we serve.” 

The shares will start trading on the LSE under the ticker “GTHC”, later transitioning to “GTCO”. 

Shares will also trade in Naira on the Nigerian Exchange Limited under “GTCO”.  

Until the GDR listing cancellation takes effect on 31 July 2025, GTCO’s GDRs will continue trading freely under the ticker “GTCO”. 

GDR holders can exchange for depository interests on the LSE or shares on the NGX, with transferability between exchanges subject to criteria.