Latest news with #GTCO
Zawya
11-07-2025
- Business
- Zawya
Nigeria: NGX market caps rise to $51.4bln as GTCO lists new shares
The Nigerian stock market maintained its bullish run to close trading session on a positive note on Thursday, amidst despite recording mixed outcomes in key performance indicators. The Nigerian Exchange (NGX) market capitalization increased by N1.76 trillion, representing a 2.28 percent increase to settle at N78.73 trillion following Guaranty Trust Holding Company's (GTCO) new listing. The All Share Index (ASI) surged by 2.01 percent, adding 2,457.13 basis points to close at a new all-time high of 124,446.80 basis points. Hence, the market index and the market capitalization diverged, as Nigerian Exchange lists GTCO Plc's public offer of 2,288,250,000 ordinary shares of 50 kobo each at N70.00 per share on the exchange on Thursday. Investor sentiment remained largely positive, as reflected in the market breadth, with the local bourse recording its seventh consecutive session of gains. With the booming trade, the market breadth closed largely positive, recording 70 gainers and 10 losers. In addition, the market sectoral performance was positive. FTN Cocoa Processor, Haldane Mccall Holdings, United Bank for Africa, UACN Property Development Company, Caverton Offshore Support Group and Consolidated Hallmark Holdings topped the advancers' chart for today with a price appreciation of 10.00 percent each. Other gainers include Redstar Express, ABC Transport Services, CAP, Ellah Lakes, AIICO Insurance and fifty-nine others. Ten stocks depreciated, according to trading details obtained from the Nigerian market. Conversely, Neimeth International Pharmaceuticals was the top loser, with a price depreciation of -9.91 percent. Other decliners include Legend Internet Services, Cadbury Nigeria, Livestock, VFD Group and Dangote Sugar. The sustained rally was primarily driven by strong buying interest across all the major market sectors. All five major market sectors were up, led by the insurance sector, which grew by +3.96 percent, followed by the banking sector, up by +3.86 percent, and the consumer goods sector, which gained +1.15 percent. Also, the industrial sector rose by +0.25 percent, and the oil & gas sector saw a moderate uptick of +0.04 percent. On Thursday, trading activities improved as the total volume and total value of trades increased by 44.05 percent and 77.62 percent respectively. Approximately 1,280.16 million units valued at N27,726.76 million were transacted across 27,875 deals. In terms of volume, Access Holdings led the activity chart, accounting for 13.62 percent of the total volume of trades, followed by AIICO Insurance, Japaul Gold Ventures, United Bank for Africa and First City Monument Bank (FCMB Group), rounding out the top five. Access Holdings also emerged as the most traded stock in value terms, accounting for 14.38 percent of the total value of all stock transactions conducted on the exchange. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Yahoo
07-07-2025
- Business
- Yahoo
Nigerian financial group Guaranty Trust targets London listing
Guaranty Trust Holding Co (GTCO), a Lagos-based banking group, announced plans for a listing on the London Stock Exchange's main market. The move is aimed at enhanced global visibility and compliance with the Central Bank of Nigeria's (CBN) new capital requirements. The CBN mandates a minimum capital of N500bn ($327.2m) for banks like GTBank Nigeria, a subsidiary, by 31 March 2026. The net proceeds from the London listing will primarily support GTBank Nigeria's recapitalisation and align with Guaranty Trust's growth strategy. Specifically, the funds will help the company in expanding its loan portfolio, upgrading IT systems, opening new branches, and pursuing 'selective bolt-on' acquisitions. Admission to the LSE main market is expected on 9 July, with Citigroup as the sole global coordinator and bookrunner. The company also plans to cancel its existing global depositary receipts listing on the LSE by 31 July. GTCO has completed a primary equity offering on the London Stock Exchange, securing $105m by issuing approximately 2.29 billion new ordinary shares, as per a company statement on 3 July. The shares were priced at N70.00 Naira each. Post-offering, GTCO's total issued share capital will reach 36.43 billion shares, with about 99.9% held by public investors. This follows GTCO's fundraise of N209bn in July 2024. GTCO Group CEO Segun Agbaje said: "This Offering and transition to a full listing on the Official List of the FCA and to trading of the Company's shares on the London Stock Exchange's main market for listed securities represents a pivotal moment in GTCO's growth story, reinforcing our position as a forward-thinking African Financial Services Institution. This move builds on our tradition of "many firsts" and innovation, as we continue to create exceptional value for our shareholders, customers, and broader stakeholders. 'By enhancing our global visibility and access to capital, we are not just advancing our own ambitions but also unlocking transformative opportunities across the markets and customer segments we serve." The shares will start trading on the LSE under the ticker 'GTHC', later transitioning to 'GTCO'. Shares will also trade in Naira on the Nigerian Exchange Limited under 'GTCO'. Until the GDR listing cancellation takes effect on 31 July 2025, GTCO's GDRs will continue trading freely under the ticker 'GTCO'. GDR holders can exchange for depository interests on the LSE or shares on the NGX, with transferability between exchanges subject to criteria. "Nigerian financial group Guaranty Trust targets London listing " was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
04-07-2025
- Business
- Zawya
Guaranty Trust Holding Company Plc (GTCO Plc) Becomes the 1st Financial Services Institution in West Africa to Achieve Listing and Trading of its Ordinary Shares on the London Stock Exchange
Guaranty Trust Holding Company Plc (GTCO Plc) ( Africa's leading and most profitable Financial Services Group, has recorded a significant milestone in its growth and expansion journey with the successful admission of its Ordinary Shares to the Equity Shares (International Commercial Companies Secondary Listing) category of the Official List of the Financial Conduct Authority (FCA) and to trading on the main market for listed securities of the London Stock Exchange. This historic achievement makes GTCO Plc, the 1 st Financial Services Institution in West Africa to dual list its Ordinary Shares on both the Nigerian and London stock exchanges, and subject to certain criteria, it is expected that the Shares will be transferrable between the two exchanges. The admission follows the successful pricing of its fully marketed offering (The Offering) on the London Stock Exchange to raise gross proceeds of $105million in exchange for 2.29 billion of new ordinary shares in the company, which was supported by a strong book of high-quality, long-term institutional investors. Concurrent with the Offering, the Company also gave notice of its intention to cancel the listing of its existing GDRs on the certificates representing certain securities (depositary receipts) category of the Official List of the United Kingdom Financial Conduct Authority ('FCA') and the admission to trading of GDRs on the London Stock Exchange's main market for listed securities. Building on the momentum of the successful first tranche of its equity capital raise programme in July 2024, which secured ₦209 billion, GTCO will deploy the proceeds from the Offering to strengthen its capital base, meet its recapitalization target, and fund strategic expansion across high-growth markets and priority sectors within and outside Nigeria. It is expected that Admission and unconditional dealing in the Shares will become effective on or before 8.00 a.m. (UK time) on 9 July 2025 under the ticker 'GTHC'. Following the cancellation of the GDRs listing, the Company intends to change the ticker symbol for the Shares from 'GTHC' to 'GTCO' and will issue a separate announcement in due course to that effect. Commenting on the LSE Listing, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: 'Today marks a major milestone—not just for GTCO, but for the future we see for African financial institutions on the global stage. We are incredibly proud to be the 1 st Financial Services Institution in West Africa to list our ordinary shares on London Stock Exchange's main market for listed securities, and even more honored by the trust placed in us by the investing community. For us, this was not just about raising capital. It was about validating the strength of our franchise, the clarity of our strategy, and the discipline with which we execute.' He further said; 'I would like to thank everyone who made this possible—our advisors and legal teams, our longstanding shareholders, the regulators both in Nigeria and in the UK, as well as the Nigerian government for creating an environment that supports our bold ambition and vision to be Africa's leading financial services institution.' GTCO's fully marketed offering attracted long-term institutional capital, reflecting investor confidence in the Group's fundamentals, governance, and strategic outlook. It also signals improving market sentiment, buoyed by ongoing economic reforms by the Federal Government and a return to traditional orthodox monetary policy by the Central Bank of Nigeria, which have gone a long way to stabilising the macroeconomic environment and gradually restoring investor confidence in Nigeria's long-term prospects. Distributed by APO Group on behalf of Guaranty Trust Holding Company Plc. About GTCO Plc: GTCO Plc is one of Africa's leading financial services institutions with a longstanding track record of strong growth, service excellence, and shareholder returns. The Group operates across banking, payments, asset management, and pension administration in eleven countries, including Nigeria, the UK, and key African markets.
Zawya
04-07-2025
- Business
- Zawya
Nigeria: GTCO to list on London stock exchange, seeks $100mln for recapitalisation
Guaranty Trust Holding Company Plc (GTCO) is set to list its shares on the London Stock Exchange, having revealed plans to raise approximately $100 million through a fully marketed equity offering and transition from its current Global Depositary Receipts (GDRs) structure. According to a disclosure sent to the Nigerian Exchange Limited (NGX) on Thursday, the offering commenced on July 2 and is expected to close on July 3, 2025. The admission of GTCO's ordinary shares to the London Stock Exchange is scheduled for 8:00 a.m. on July 9, 2025. GTCO noted that, in line with this move, it has applied to cancel the listing of its GDRs on the FCA's Official List and the London Stock Exchange's Main Market. The company will instead list its ordinary shares directly on the LSE under the ticker symbol 'GTHC,' which will later be changed to 'GTCO' following the cancellation of the GDRs by July 31, 2025. The group explained that the offering would support the recapitalisation of its banking subsidiary, GTBank Nigeria, in line with the Central Bank of Nigeria's new minimum capital requirement of ₦500 billion for international commercial banks. 'The net proceeds of this offering will be used primarily for the further recapitalisation of GTBank Nigeria and are intended to be deployed in accordance with GTCO's growth strategy,' the company stated. According to the Group Chief Executive Officer of GTCO, Segun Agbaje, the development marks a defining moment in the company's growth trajectory. 'This offering and transition to a full listing on the Official List of the FCA and to trading of the company's shares on the London Stock Exchange's main market for listed securities represents a pivotal moment in GTCO's growth story, reinforcing our position as a forward-thinking African financial services institution,' Agbaje said. He added, 'By enhancing our global visibility and access to capital, we are not just advancing our own ambitions but also unlocking transformative opportunities across the markets and customer segments we serve.' In July 2024, GTCO completed the first tranche of its capital raise, securing ₦209 billion. The current offering represents the second tranche aimed at meeting the CBN's March 2026 deadline. GTCO also disclosed that it delivered a profit after tax of ₦258 billion in the first quarter of 2025, representing a 61 per cent year-on-year growth (excluding fair value gains), driven by strong core earnings. The bank's non-performing loan ratio improved to 4.5 per cent during the period under review, down from 5.2 per cent at the end of 2024.
Zawya
05-06-2025
- Business
- Zawya
Nigeria: NGX market cap hits $45bln as bulls persist
Nigerian equities market extended previous day's sentiment as price uptick in Oando Plc and 30 others pushed the overall capitalisation to cross N71 trillion. The All-Share Index rose by 354.25 per cent, representing a gain of 0.32 per cent, to close at 112,781.73 points. Similarly, the overall market capitalisation value gained N233 billion to close at N71.118 trillion. The market's positive performance was driven by price appreciation in large and medium-capitalised stocks which are; Oando, PZ Cussons Nigeria, Guaranty Trust Holding Company (GTCO), May & Baker Nigeria, and First Holdco. Investor sentiment, as measured by market breadth closed positive as 32 stocks gained, while 21 lost. Oando recorded the highest price gain of 10 per cent to close at N51.70, per share. Royal Exchange followed with a gain of 8.64 per cent to close at 88 kobo, while Legend Internet was up by 7.27 per cent to close at N5.90, per share. Lasaco Assurance appreciated by 6.67 per cent to close at N3.20, while May & Baker Nigeria gained 6.56 per cent to close at N13.80, per share. On the other hand, NCR Nigeria led the losers' chart by 9.89 per cent to close at N5.92, per share. ABC Transports followed with a decline of 9.83 per cent to close at N2.95, while Meyer depreciated by 9.63 per cent to close at N8.45, per share. Academy Press lost 9.58 per cent to close at N4.53, while Livestock Feeds shed 6.77 per cent to close at N8.95, per share. The total volume traded fell by 1.86 per cent to 611.527 million units, valued at N16.680 billion, and exchanged in 13,682 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 93.467 million shares valued at N1.776 billion. GTCO followed with 87.204 million shares worth N5.952 billion, while Royal Exchange traded 73.079 million shares valued at N64.920 million. United Bank for Africa (UBA) traded 57.114 million shares valued at N1.980 billion, while Access Holdings transacted 38.760 million shares worth N854.588 million. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
