Guaranty Trust Holding Company Plc (GTCO) plans to raise $100 million through a public equity offering as part of a push to meet Nigeria’s new capital requirements, NaijNaira can report.
According to a regulatory filing seen on Nigerian Exchange Group’s website, the offering opened on July 2 and will close on July 3, 2025.
GTCO also plans to transition from trading Global Depositary Receipts (GDRs) to a full listing of its ordinary shares on the London Stock Exchange (LSE).
The company’s shares will begin trading on the LSE’s Main Market by 8:00 a.m. on July 9 under the temporary symbol “GTHC”.
That ticker will switch to “GTCO” once the GDRs are officially delisted by July 31.
This funding round is aimed at recapitalising GTBank Nigeria, in line with the Central Bank of Nigeria’s ₦500 billion minimum capital rule for international banks, due March 2026.
CEO Segun Agbaje called the plan “a pivotal moment in our growth journey.”
He added, “It enhances our global visibility, strengthens access to capital, and positions us to unlock significant opportunities across the markets we serve.”
GTCO had earlier raised ₦209 billion in July 2024, making this second round part of a broader capital expansion.
The company’s first quarter 2025 numbers show strong momentum, with a profit after tax of ₦258 billion, up 61% year-on-year.
Its non-performing loan ratio also improved, dropping from 5.2% at the end of 2024 to 4.5%.
The upcoming LSE listing is expected to attract a wider investor base and reinforce GTCO’s international ambitions.
Article updated 3 weeks ago. Content is written and modified by multiple authors.
