July 03, (THEWILL) — Guaranty Trust Holding Company Plc has announced plans to raise $100 million through a direct listing of its ordinary shares on the London Stock Exchange (LSE), in a strategic move aimed at boosting global visibility and supporting its recapitalisation efforts in line with the Central Bank of Nigeria’s (CBN) new regulatory requirements.
In a notice filed with the Nigerian Exchange Limited on Thursday, July 3, 2025, the company said the ordinary shares would be admitted to the equity shares segment of the UK Financial Conduct Authority’s (FCA) Official List, clearing the way for trading on the LSE’s main market.
“It is expected that dealings in the shares will commence on the day of admission, after satisfaction of certain conditions, at market open on July 9, 2025,” the notice read.
As part of the transition, GTCO disclosed plans to cancel the listing of its Global Depository Receipts (GDRs) on both the FCA’s Official List and the LSE’s Main Market.
The company will instead list its ordinary shares directly under the ticker symbol “GTHC,” which will later be changed to “GTCO” upon the completion of the GDR cancellation process by July 31, 2025.
The financial services group said proceeds from the offering will support the recapitalisation of its flagship banking subsidiary, Guaranty Trust Bank Nigeria, in compliance with the CBN’s new ₦500bn minimum capital requirement for international commercial banks.
“The net proceeds of this offering will be used primarily for the further recapitalisation of GTBank Nigeria and are intended to be deployed in accordance with GTCO’s growth strategy,” the company said.
Group Chief Executive Officer of GTCO, Mr Segun Agbaje, described the planned listing as a landmark moment in the company’s evolution.
“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.
“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,” Agbaje said.
The latest move comes on the heels of the N209bn GTCO raised in July 2024 during the first tranche of its capital raise programme.
The current offering represents the second tranche aimed at meeting the CBN’s recapitalisation deadline of March 2026.
GTCO also reported a strong start to 2025, posting a profit after tax of ₦258bn in the first quarter—up 61 per cent year-on-year (excluding fair value gains)—driven by solid core earnings.
The group’s non-performing loan ratio improved to 4.5 per cent, down from 5.2 per cent as of December 2024.
The fresh capital injection is expected to help GTCO scale its loan book across retail, SME, and institutional banking segments, enhance digital infrastructure, expand its branch network, and pursue strategic acquisitions in asset management and pension fund administration
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