GTCO Plans $100 Million Fundraise and London Stock Exchange Listing.
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GTCO Plans $100 Million Fundraise and London Stock Exchange Listing.
Guaranty Trust Holding Company Plc (GTCO) has announced its intention to raise around \$100 million through a fully marketed equity offering. Th
e company plans to move from its current Global Depositary Receipts (GDR) structure to a full listing of its ordinary shares on the London Stock Exchange (LSE) Main Market.
The offering began on July 2 and is expected to close on July 3, 2025. GTCO’s ordinary shares are scheduled to be admitted to the LSE on July 9, 2025, at 8 a.m.
GTCO has also applied to cancel its GDR listing on the FCA’s Official List and the LSE’s Main Market. The ordinary shares will be listed directly under the ticker “GTHC,” which will later change to “GTCO” after the GDRs are cancelled by July 31, 2025.
The funds raised will primarily support the recapitalization of GTBank Nigeria, aligning with the Central Bank of Nigeria’s new minimum capital requirement of ₦500 billion for international commercial banks.
“The net proceeds will be used to further recapitalize GTBank Nigeria in line with our growth strategy,” the company said.
GTCO’s Group CEO, Segun Agbaje, described the move as a significant step in the company’s development, enhancing its global visibility and capital access. He emphasized that this would open new opportunities across markets and customer segments.
In July 2024, GTCO raised N209 billion in the first tranche of its capital increase. The current offering represents the second tranche, aimed at meeting the CBN’s March 2026 deadline.
Additionally, GTCO reported a profit after tax of N258 billion for Q1 2025, marking a 61% year-on-year growth (excluding fair value gains), supported by strong core earnings. The bank’s non-performing loan ratio improved to 4.5% from 5.2% at the end of 2024.
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Faith Kegh
Content & Editorial Manager - Leads the creation, review, and publication of high-quality news and media content. She ensures that all editorial work reflects the organization’s standards of accuracy, professionalism, and relevance, while also engaging and informing the audience.
As the key driver of TokinPoint Media LTD's editorial voice, the manager oversees content planning, assigns tasks to writers or editors, enforces deadlines, and ensures consistency across all platforms. She also plays a strategic role in aligning content with audience interests and search engine optimization (SEO) best practices.