GTCO Set to Make History as First Nigerian Bank on London Stock Exchange

GTCO Holdings is on the verge of making financial history as it sets the stage to become the first Nigerian banking group to directly list on the London Stock Exchange (LSE).

As part of this landmark move, GTCO has launched a public offering of new ordinary shares aimed at raising approximately $100 million. The equity raise is structured as an accelerated bookbuild and began on July 2, 2025. It is expected to run through July 31.

In a parallel move, the group also announced that it will cancel the listing of its Global Depositary Receipts (GDRs) from the UK Financial Conduct Authority’s Official List. These GDRs will also be withdrawn from trading on the LSE’s main market.

Instead, GTCO plans to list all its ordinary shares directly on the exchange. These shares will be admitted under the equity shares category for international commercial companies as a secondary listing. Upon admission, the shares will begin trading on the LSE’s main market for listed securities.

This strategic pivot represents a shift from a more limited depositary structure to full equity access for international investors and may significantly elevate the group’s global visibility and capital raising potential.

More details are expected as the listing process continues to unfold.