Guaranty Trust Holding Company Plc (GTCO) has made history by becoming the first financial services institution in West Africa to list its ordinary shares on the London Stock Exchange.
The company’s shares were admitted to the equity shares category of the Official List of the UK’s Financial Conduct Authority and began trading on the main market for listed securities of the London Stock Exchange. This marks a major step forward in GTCO’s journey of growth and global expansion.
As part of the listing, GTCO successfully raised $105 million through a fully marketed offering. The offering involved the issuance of 2.29 billion new ordinary shares, attracting strong interest from high-quality, long-term institutional investors. The shares are also expected to be transferable between the Nigerian and London stock exchanges under certain conditions.
In line with the move, GTCO has also announced plans to cancel the listing of its Global Depositary Receipts (GDRs) on the London Stock Exchange. The company will issue further updates on its new trading symbol, which is expected to change from “GTHC” to “GTCO”.
Speaking on the listing, Group CEO Segun Agbaje said:
“Today marks a major milestone—not just for GTCO, but for the future we see for African financial institutions on the global stage.
“We are incredibly proud to be the 1st Financial Services Institution in West Africa to list our ordinary shares on the London Stock Exchange’s main market for listed securities, and even more honoured 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 thanked advisors, shareholders, regulators in both Nigeria and the UK, and the Nigerian government for supporting the company’s ambitions.
The proceeds from the offering will help GTCO strengthen its capital base, meet recapitalisation goals, and fund expansion into high-growth markets within and outside Nigeria.
The success of the offering also reflects renewed investor confidence in Nigeria, boosted by recent economic reforms and a return to orthodox monetary policies by the Central Bank of Nigeria.
GTCO operates in eleven countries, including Nigeria, the UK, and other key African markets. Its services span banking, payments, asset management, and pension administration.
