GTCO to Raise $105 Million on London Stock Exchange Through Share Offering

...Becomes First West African Financial Institution to List and Trade Ordinary Shares on the LSE

Guaranty Trust Holding Company Plc (GTCO Plc), one of Africa’s leading financial services groups, has successfully priced its fully marketed offering on the London Stock Exchange (LSE), raising gross proceeds of $105 million. This was achieved through the issuance of 2.29 billion new ordinary shares, supported by a strong book of high-quality, long-term institutional investors.

This marks a major milestone in GTCO’s growth trajectory with the successful admission of its ordinary shares to the Equity Shares (International Commercial Companies Secondary Listing) category on the Official List of the Financial Conduct Authority (FCA), and commencement of trading on the London Stock Exchange’s main market for listed securities.

GTCO Plc becomes the first financial services institution in West Africa to achieve a dual listing of its ordinary shares on both the Nigerian and London stock exchanges. Subject to specific criteria, the shares are expected to be transferable between both exchanges.

As part of the process, the company also announced its intention to cancel the listing of its existing Global Depositary Receipts (GDRs) under the certificates representing certain securities category of the FCA’s Official List, as well as their admission to trading on the London Stock Exchange’s main market.

Following the success of its first tranche of equity capital raising in July 2024, which generated ₦209 billion, GTCO plans to deploy the proceeds from this latest offering to strengthen its capital base, meet regulatory recapitalization targets, and support strategic expansion across high-growth markets and priority sectors both within and outside Nigeria.

Admission and unconditional dealing in the shares is expected to commence on or before 8:00 a.m. (UK time) on 9 July 2025 under the ticker “GTHC”. Following the planned cancellation of the GDR listing, GTCO intends to change the ticker symbol to “GTCO” and will issue a separate announcement to confirm this change.

Commenting on the LSE listing, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. 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 London Stock Exchange’s main market for listed securities, and even more honored 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.

I would like to thank everyone who made this possible—our advisors and legal teams, our longstanding shareholders, the regulators both in Nigeria and in the UK, as well as the Nigerian government for creating an environment that supports our bold ambition and vision to be Africa’s leading financial services institution.”

GTCO’s offering attracted significant long-term institutional interest, underscoring confidence in the group’s fundamentals, governance structure, and strategic direction.

The development also reflects improving market sentiment driven by recent economic reforms by the Federal Government and a return to orthodox monetary policy by the Central Bank of Nigeria, which have contributed to macroeconomic stability and a gradual restoration of investor confidence in Nigeria’s long-term outlook.