GTCO to List Ordinary Shares on London Stock Exchange, Targets Global Capital and Liquidity Boost

Guaranty Trust Holding Company Plc (GTCO) has announced plans to list its ordinary shares on the London Stock Exchange (LSE), marking a strategic move aimed at raising capital on the global stage and enhancing market liquidity.

In a regulatory disclosure to the Nigerian Exchange (NGX), GTCO revealed that the listing will be conducted under the equity shares category of the UK Financial Conduct Authority’s (FCA) official list, with trading expected to commence on July 9, 2025, upon satisfaction of the required conditions.

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The financial group stated that the listing will give international investors increased flexibility and access, while positioning the company to attract capital from a broader investor base.

As part of the listing strategy, GTCO has initiated a $100 million Accelerated Bookbuild to offer shares at a discounted price to institutional investors. The offering is aimed at boosting its free float to approximately 99%, thereby increasing share liquidity. Citigroup is managing the transaction, and the final offer price and allocation details will be announced upon the bookbuild’s closure on July 3.

In a parallel move, GTCO disclosed plans to delist its Global Depository Receipts (GDRs) from the LSE by July 31, 2025. The company attributed this decision to persistently low trading volumes on the LSE’s main market since the GDRs were listed on July 1, 2021.

According to the company, the GDR delisting and the ordinary share listing are part of a broader capital market strategy aimed at attracting stronger investor interest and supporting its long-term funding objectives.

“The decision to cancel the GDR listing reflects our strategy to pivot towards a more dynamic instrument—ordinary shares—expected to offer improved liquidity and a wider investor appeal,” the company said in the statement.

GTCO clarified that the offering and related disclosures are intended exclusively for select institutional investors in Nigeria, the United Kingdom, and the United States, in compliance with relevant securities regulations.