GUARANTY TRUST HOLDING COMPANY PLC (GTCO) has announced, via a disclosure on the Nigerian Exchange (NGX), the launch of a fully marketed offering of new ordinary shares (to be listed on the London Stock Exchange – LSE) to raise approximately $100.0 million. At the same time, GTCO gave notice of its intention to cancel the listing of its Global Depositary Receipts (GDRs) under the "certificates representing certain securities (depository receipts)" category of the Official List of the UK Financial Conduct Authority (FCA), as well as their admission to trading on the LSE’s main market. Instead of the GDRs, GTCO is seeking to have all its ordinary shares admitted to the "equity shares (international commercial companies secondary listing)" category of the FCA’s Official List and to trading on LSE’s main market, targeting a free float of 99.0%. The book-building period for the offer ran from July 2 to July 3, 2025. GTCO subsequently announced that approximately 2.29 billion new shares would be issued, denominated in US dollars, at a reference price of N70.00 ($0.0459) per share.
