Recapitalisation: GTCO Set To Raise $100m On London Stock Exchange

Guaranty Trust Holding Company, GTHC, has become the first Nigerian commercial bank to be listed on the London Stock Exchange, LSE. This followed the Holdco’s decision to raise $100 million through ordinary shares on the exchange, according to a statement filed with the Nigerian Exchange, NGX on Thursday.

The offering, according to the statement, will commence on July 2 and expected to close on July 31, 2025. the company said  admission of the ordinary shares to the LSE is scheduled for 8:00 a.m. on July 9, 2025.

According to the financial service company, whatever is raised from the offering will be used to support its N500 billion recapitalisation of its banking arm, GTBank.

“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. .

Instructively,  GTCO disclosed that it has applied to cancel the listing of its GDRs on the FCA’s Official List and the LSE Main Market. The company, will instead, list its ordinary shares directly on the LSE under the ticker symbol “GTHC”, which will later be changed to “GTCO” following the cancellation of the GDRs by July 31, 2025.

Segun Agbaje, the Chief Executive Officer of the Holdco in his reaction said the offering is a defining moment in the company’s plan to become Africa’s financial powerhouse.

Agbaje: “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.”

Financial service experts insist that the move will strengthen GTCO’s plan to beat the Central bank of Nigeria, CBN March 31, 2026 recapitalisation deadline for Nigerian banks.