Guaranty Trust Holding Company (GTCO) has officially begun trading on the London Stock Exchange (LSE), following a successfully priced primary equity offering.
The Nigerian banking powerhouse becomes the first financial institution from the country to accomplish this milestone. In a statement published on its website, the group confirmed that 36.4 billion ordinary shares have been admitted to the main market of the London Stock Exchange for immediate trading and dealing.
GTCO further revealed that its entire issued share capital - totalling 36,425,229,514 shares - has been admitted to the equity shares (international commercial companies’ secondary listing) segment of the Official List maintained by the UK Financial Conduct Authority.
The company also noted that trading commenced under the ticker symbol GTHC, with plans to revert to GTCO after the cancellation of its Global Depositary Receipts (GDRs).
Prior to this LSE listing, foreign portfolio investors had shown strong interest in GTCO shares on the Nigerian Exchange, driven by the bank’s robust earnings performance and growing market share. GTCO is also recognised for having one of the lowest costs of funds in Nigeria’s banking sector, thanks to its strong presence in the retail banking segment.
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