GTCO Plc Achieves Dual Listing on London Stock Exchange

Guaranty Trust Holding Company Plc (GTCO Plc) has made history by becoming the first financial services institution in West Africa to list its ordinary shares on the London Stock Exchange (LSE). This achievement follows the successful pricing of a $105 million offering, involving 2.29 billion new shares, supported by long-term institutional investors.

The listing marks a significant milestone in GTCO's growth strategy. The proceeds will strengthen its capital base, meet recapitalization targets, and fund expansion in high-growth markets within and outside Nigeria. Concurrently, GTCO plans to cancel its Global Depository Receipts (GDRs) on the LSE.

GTCO's Group Chief Executive Officer, Segun Agbaje, emphasized the importance of this milestone, stating that it validates the company's strategy and execution. The listing is expected to enhance market sentiment, reflecting investor confidence in GTCO's fundamentals and the improving economic environment in Nigeria.