Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Friday, July 4
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Stock Market»GTCO to list on London stock exchange, seeks $100mln for recapitalisation
    Stock Market

    GTCO to list on London stock exchange, seeks $100mln for recapitalisation

    July 4, 20253 Mins Read


    Guaranty Trust Holding Company Plc (GTCO) is set to list its shares on the London Stock Exchange, having revealed plans to raise approximately $100 million through a fully marketed equity offering and transition from its current Global Depositary Receipts (GDRs) structure.

    According to a disclosure sent to the Nigerian Exchange Limited (NGX) on Thursday, the offering commenced on July 2 and is expected to close on July 3, 2025. The admission of GTCO’s ordinary shares to the London Stock Exchange is scheduled for 8:00 a.m. on July 9, 2025.

    GTCO noted that, in line with this move, it has applied to cancel the listing of its GDRs on the FCA’s Official List and the London Stock Exchange’s 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.

    The group explained that the offering would support the recapitalisation of its banking subsidiary, GTBank Nigeria, in line with the Central Bank of Nigeria’s new minimum capital requirement of ₦500 billion for international commercial banks.

    “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 stated.

    According to the Group Chief Executive Officer of GTCO, Segun Agbaje, the development marks a defining moment in the company’s growth trajectory.

    “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,” Agbaje said.

    He added, “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.”

    In July 2024, GTCO completed the first tranche of its capital raise, securing ₦209 billion. The current offering represents the second tranche aimed at meeting the CBN’s March 2026 deadline.

    GTCO also disclosed that it delivered a profit after tax of ₦258 billion in the first quarter of 2025, representing a 61 per cent year-on-year growth (excluding fair value gains), driven by strong core earnings. The bank’s non-performing loan ratio improved to 4.5 per cent during the period under review, down from 5.2 per cent at the end of 2024.

     

    Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleÀ quoi s’attendre pour Bitcoin (BTC) et Ethereum (ETH) en juillet? Y aura-t-il une grande augmentation? Explique l’analyste!
    Next Article Vosges. À Saint-Dié, le supermarché Vosges Market rouvre ses portes après plusieurs semaines de fermeture administrative

    Related Posts

    Stock Market

    Vosges. À Saint-Dié, le supermarché Vosges Market rouvre ses portes après plusieurs semaines de fermeture administrative

    July 4, 2025
    Stock Market

    B Treasury Capital va coter ses actions sur le Spotlight Stock Market

    July 4, 2025
    Stock Market

    London listings plunge to 30-year low as Hong Kong soars

    July 4, 2025
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    Action Ganglong China Property Group Limited | Cours 6968 Bourse Hong Kong S.E.

    July 31, 2007

    les fondamentaux de l’or restent bons

    September 4, 2007
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Property

    Jinmao Property Services annonce l’acquisition de Jinmao Lvjian Chongqing

    April 30, 2025
    Stock Market

    Dow futures down 170 points on trade uncertainties, geopolitical tensions

    June 11, 2025
    Bitcoin

    This Week in Coins: Bitcoin Dips, Ethereum Sits Still as Trump Family Settles In

    August 17, 2024
    What's Hot

    quels impacts pour votre entreprise ?

    March 26, 2025

    U.S. Court Rules Two Obscure Altcoins Are Commodities

    July 5, 2024

    Bitcoin’s road to $68K – Traders, watch out for these ongoing trends!

    August 24, 2024
    Most Popular

    Le distillation du patrimoine accepte désormais le bitcoin et le tiendra comme un actif d’entreprise

    May 17, 2025

    Topping out celebrated at new Sidney Sussex Building

    October 10, 2024

    Stock market crash LIVE: BSE Sensex plunges over 2,500 points; investors lose Rs 9.51 lakh crore as US recession fears hit global markets hard

    August 5, 2024
    Editor's Picks

    Silver ETFs offer good investment opportunity amidst market volatility

    October 18, 2024

    Bitcoin rebound, markets recover: Market Domination

    August 9, 2024

    3 Spooky Signs That You’re About to Lose Your Money on a Healthcare Stock Investment

    October 26, 2024
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2025 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.