In a bold move set to reshape its global footprint, GTCO Holdings is heading to the London Stock Exchange, poised to make Nigerian banking history.
The group has launched a public offering to raise $100 million ahead of the landmark listing—the first by a Nigerian bank.
$100 Million Share Offer Launched
The journey began on July 2, when GTCO launched a public offering of new ordinary shares to raise around $100 million through an accelerated bookbuild.
This offer will remain open until July 31, the same day the group plans a major shift in its international market strategy.
On that day, GTCO will cancel the listing of its Global Depositary Receipts (GDRs) from the UK Financial Conduct Authority’s (FCA) Official List.
It will also withdraw them from trading on the LSE’s main market.
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London Stock Exchange
Instead of the GDRs, the group will list all its ordinary shares directly.
Consequently, GTCO will apply to admit these shares to the equity shares category for international commercial companies under a secondary listing on the FCA’s Official List.
Furthermore, it will begin trading them on the LSE’s main board for listed securities.
Stronger Global Presence
By taking this bold step, GTCO signals its confidence in Nigeria’s banking sector and asserts its readiness to engage global investors more transparently.
This story continues to unfold.
More details soon….
