Guaranty Trust Holding Company Plc (GTCO) has announced plans to list its ordinary shares on the London Stock Exchange as part of efforts to raise capital on the international market.
In a notice filed with the Nigerian Exchange (NGX) on July 3, 2025, the company stated that the ordinary shares will be admitted under the equity shares category of the UK Financial Conduct Authority’s (FCA) official list, paving the way for their trading on the London Exchange’s main market.
“It is expected that dealings in the shares will commence on the day of admission, after satisfaction of certain conditions, at market open on July 9, 2025,” the company noted.
GTCO believes the ordinary share listing will provide investors with greater flexibility and broader access, while strengthening its ability to raise capital on the international stage.
To accelerate the listing process and boost share liquidity, Guaranty Trust Holding Company Plc (GTCO) has launched a $100 million Accelerated Bookbuild.
The move is aimed at raising capital quickly by offering shares to institutional investors at a discounted price, while increasing the company’s free float to around 99%.
- Citigroup is managing the transaction, and the final offer price along with share allocation details will be announced once the bookbuild closes on July 3.
As part of this shift, the company also disclosed plans to cancel the listing of its Global Depository Receipts (GDRs) on the London Stock Exchange by no later than July 31, 2025.
GDR delisting
GTCO confirmed it will cancel the listing of its Global Depository Receipts (GDRs) on the London Stock Exchange and remove them from the depository receipt category of the UK Financial Conduct Authority (FCA).
Explaining the decision, the company cited persistently low trading activity:
“The company has applied for the cancellation of the admissions to listing and trading the GDRs in London due to low volumes being traded on the main market of the London Stock Exchange.”
Once delisted, the GDRs will no longer be tradable on the London Exchange.
GTCO noted that the decision is part of a broader strategy to pursue the listing of ordinary shares, which are expected to attract higher investor interest, improve liquidity, and support its long-term capital-raising goals.
Backstory
Guaranty Trust Holding Company Plc’s Global Depository Receipts (GDRs) have been listed on the Main Market of the London Stock Exchange since July 1, 2021.
However, trading activity has remained consistently low, prompting the company to pursue a cancellation of the listing.
In line with its goal of raising capital internationally, GTCO is shifting its focus to ordinary shares, which are expected to offer greater liquidity, attract higher trading volumes, and appeal to a broader base of investors.
The company also clarified that the disclosure is intended exclusively for select institutional investors in Nigeria, UK, or US, in accordance with applicable regulatory laws.
