Starting on July 9 at 8 am (local time), Guaranty Trust Holding Company Plc (GTCO), a Nigerian financial group based in Lagos, will be listed on the London Stock Exchange (LSE), becoming the first Nigerian banking entity to list all its shares directly on the London Stock Exchange (LSE), becoming the first Nigerian banking entity to list all its shares directly on it ordinary.

GTCO announced that it had raised $105 million through a public offering of common shares completed on the main market of the London Stock Exchange. The financial holding company issued approximately 2.29 billion new ordinary shares denominated in dollars and sold at a reference price of 70 naira (0.0459) dollars per share. At the end of this fundraising, GTCO's total share capital will amount to approximately 36.43 billion shares, of which 99.9%

The proceeds from this listing will be used to strengthen its financial capacity, specifically that of its Nigerian banking subsidiary, GTBank Nigeria. According to a circular issued by the Central Bank of Nigeria on 28 March 2024, Nigerian commercial banks with an international license must increase their minimum capital to 500 billion naira by 31 March 2026. GTCO already raised 209 billion naira in July 2024, during a first fundraising operation. This new issue is part of the second phase of its recapitalization program

The funds raised will also be used to finance strategic acquisitions of GTCO, particularly in the pension fund management and asset management sectors in Nigeria. GTCO also aims to strengthen its presence in areas of West and East Africa where it is already active. The holding also intends to develop its credit offer for the benefit of SMEs, individuals and large companies, while modernizing its technological infrastructures, and extending its network of branches in Nigeria