Guaranty Trust Holding Company Plc (NGSE:GTCO), better known as GTBank, is taking a new strategic step by announcing its intention to raise nearly $100 million through a listing on the main market of the London Stock Exchange (LSE). This move is part of a dynamic to strengthen its international visibility and adjust to the new recapitalization regulation imposed by the Central Bank of Nigeria (CBN). Based in Lagos, GTCO is one of the leading banking groups in West Africa, with subsidiaries in banking, insurance, asset management, and fintech. Formerly known only for its banking subsidiary GTBank Nigeria, the institution has structured itself as a holding company to drive its growth in an integrated manner across African and international markets. It is listed on the Nigerian Exchange Group and, until recently, on the Global Depositary Receipts (GDRs) segment of the London Stock Exchange.
The decision to issue new ordinary shares on the main market of the LSE aims to strengthen the equity of its Nigerian subsidiary, GTBank Nigeria. Indeed, the Central Bank of Nigeria recently increased the minimum capital requirements for banks in the country, setting a new threshold of 500 billion nairas (approximately $327 million) by March 31, 2026. To meet this regulatory challenge, GTCO had already raised 209 billion nairas last July. The net proceeds from the London operation will complement this recapitalization effort, while contributing to the long-term growth strategy of the group.
The bank specified that the shares will be offered to institutional investors in the UK, US, and other jurisdictions, without providing details on the offer price, which will be set after the book-building process. Citigroup has been appointed as the lead manager for this fundraising. Admission to the London Stock Exchange is scheduled for July 9, 2025, and GTCO plans to withdraw its Global Depositary Receipts (GDRs) from the LSE by July 31. For Segun Agbaje, the group’s CEO, this listing marks a major milestone in GTCO’s evolution as a leading pan-African player in financial services. “This operation and the transition to a full listing on the FCA’s official list, as well as the trading of the company’s shares on the main market of the London Stock Exchange, represent a pivotal moment in GTCO’s growth story,” he said.
The leader emphasized that the strength of the results, execution discipline, and the central importance of customer service reinforce the group’s confidence in this new phase of growth. He concluded: “By expanding our international visibility and access to capital, we are not only advancing our own ambitions, but also paving the way for transformation opportunities in the markets and among the customer base we serve.”
