GTCO to list shares on London stock exchange
Guaranty Trust Bank Ltd. has declared that all its locations throughout Nigeria will close earlier than usual on Monday, June 30, 2025. Guaranty Trust Holding Company Plc has revealed its intention to list ordinary shares on the London Stock Exchange as a part of its strategy to attract international capital.In a notification submitted to the Nigerian Exchange on July 3, 2025, the company verified that its ordinary shares will be included in the equity shares category on the UK Financial Conduct Authority’s official list, permitting trading on the main market of the London Stock Exchange.
“The commencement of dealings in the shares is anticipated to occur on the day of admission, after meeting specific conditions, at the market's opening on July 9, 2025,” the company indicated.
GTCO is of the view that listing its ordinary shares will provide investors with greater flexibility and broader access, while boosting the company’s ability to raise capital on a global scale.
To expedite the listing process and enhance share liquidity, Guaranty Trust Holding Company has launched a $100 million Accelerated Bookbuild.
This initiative aims to quickly generate capital by offering shares to institutional investors at a reduced rate, while increasing the company’s free float to around 99%.
Citigroup is managing the transaction, with final details regarding the offer price and share allocation set to be revealed after the bookbuild concludes on July 3.
As a part of this transition, GTCO has also revealed plans to withdraw the listing of its Global Depository Receipts from the London Stock Exchange by July 31, 2025, at the latest.
The company has confirmed it will remove its GDRs from the London Stock Exchange and eliminate them from the depository receipt category under the UK FCA.
In explaining this decision, GTCO cited ongoing low trading volumes, stating, “The company has requested the cancellation of the admissions to listing and trading of the GDRs in London due to the low volumes traded on the main market of the London Stock Exchange.”
After the delisting, the GDRs will no longer be available for trading on the London Exchange.
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