GTCO becomes Nigeria’s first banking institution to list on London Stock Exchange

 

Guaranty Trust Holding Company (GTCO), Nigeria’s biggest financial institution by market value, had its 36.4 billion ordinary shares admitted to the main market of the London Stock Exchange (LSE) on Wednesday morning for immediate trading and dealing, according to a statement on its website.

Worth over N2.9 trillion in Lagos, where it has its primary listing, the group gained entry into the LSE’s main market for listed equities to kick off trade after scaling the regulatory hurdles of the top watchdog for the UK financial markets.

“The Company announces that its entire issued share capital, consisting of 36,425,229,514 Shares, has today been admitted to the equity shares (international commercial companies secondary listing) category of the Official List of the United Kingdom Financial Conduct Authority,” GTCO said in the statement seen by PREMIUM TIMES.

The secondary listing makes GTCO Nigeria’s first financial institution to list in the London main market, joining the ranks of local energy giant Seplat and telecommunications powerhouse Airtel Africa, who years ago established their presence on the bourse.