Guaranty Trust Holding Company Plc (GTCO Plc), already listed on the Nigerian Exchange (NGX:GTCO), made its debut on the London Stock Exchange (LSE) on July 9, becoming the first West African financial institution to achieve a dual listing on both markets. This move enhances the group’s international visibility and broadens its investor base.
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The listing follows a $105 million capital raise through the issuance of 2.29 billion new ordinary shares, backed by strong demand from long-term institutional investors. The transition from Global Depositary Receipts (GDRs) to a standard ordinary share listing reflects the group’s strategic ambition, financial strength, and commitment to transparency and good governance.
With this move, GTCO joins a very select group of Nigerian companies with dual listings in London. Prior to this, only Seplat Energy Plc (NGX:SEPLAT , LSE:SEPL), a major player in the oil and gas sector, and Airtel Africa Plc (NGX:AIRTELAFRI , LSE:AAF), a leading telecommunications provider, had achieved this milestone. This trend highlights the growing interest among Nigerian companies in accessing international markets to diversify their funding sources and enhance their global reputation.
The funds raised will be used to strengthen the group’s capital base, meet its recapitalization objectives, and finance its expansion into high-growth markets, both in Nigeria and internationally.
GTCO Plc is a pan-African financial services group operating in banking, payments, asset management, and pensions, with a presence in 11 countries including Nigeria, the United Kingdom, and several key African markets.
