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GTCO London Stock Listing Marks $100m Equity Raise, GDR Exit

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GTCO London Stock Listing

GTCO London Stock Listing to replace GDRs as company plans $100m equity raise, boosting recapitalisation efforts and market presence by July 2025

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London Stock Listing is set to mark a significant milestone in Guaranty Trust Holding Company Plc’s international expansion.

Also read: NGX Welcomes Guaranty Trust Holding Company Plc With Closing Gong Ceremony

The company has announced plans to raise approximately \$100 million via a fully marketed equity offering and list its ordinary shares directly on the London Stock Exchange’s Main Market.

In a corporate disclosure filed with the Nigerian Exchange and made available to investors on Thursday, GTCO confirmed that the offering commenced on July 2 and is expected to close on July 3, 2025.

The listing of its ordinary shares on the LSE is scheduled for 8:00 a.m. on July 9, 2025.

This transition will see the group cancel its Global Depositary Receipts (GDRs) from the Financial Conduct Authority’s Official List and the LSE’s Main Market.

In place of the GDRs, GTCO’s ordinary shares will be listed under the ticker “GTHC”, which will eventually be updated to “GTCO” by July 31, following the complete withdrawal of the GDR programme.

The move aligns with the company’s effort to recapitalise its banking subsidiary, GTBank Nigeria.

This is in response to the Central Bank of Nigeria’s directive requiring a minimum capital base 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’s statement read.

GTCO Group CEO, Segun Agbaje, described the development as a key moment in the group’s evolution.

He expressed confidence that the transition would improve investor confidence and market access.

This offering… represents a pivotal moment in GTCO’s growth story.

“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 stated.

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 had completed the first tranche of its capital raise, securing ₦209 billion.

The current offer forms the second phase of the group’s efforts to meet the CBN’s March 2026 deadline for full recapitalisation.

The company also shared its Q1 2025 financials, highlighting a profit after tax of ₦258 billion.

This represents a 61 percent year-on-year growth when adjusted for fair value gains. The robust performance was driven largely by strong core earnings.

Additionally, the non-performing loan (NPL) ratio improved from 5.2 percent at the end of 2024 to 4.5 percent in Q1 2025, indicating improved asset quality and prudent risk management.

Investors and analysts alike have welcomed the GTCO London Stock Listing move, seeing it as a strategic leap for the pan-African financial powerhouse.

Market watchers believe the listing will attract international capital and provide greater liquidity for GTCO shares.

The company’s increased global footprint also signals confidence in Nigerian banking’s potential on the world stage, particularly in the face of regulatory reform and tighter capital standards.

Also read: Company Gives GTCO 7-Days To Retract Libellous Statement Or Pay N1bn

As the July 9 listing date approaches, all eyes are on GTCO to see how the market responds to what is seen as one of the boldest moves by a Nigerian financial services group in recent years.

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WEMA BANK SETS NOVEMBER 6 FOR HACKAHOLICS 7.0 GRAND FINALE, UNVEILS “FESTIVAL OF THE FUTURE” AS THEME

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Wema Bank, Nigeria’s oldest indigenous bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has announced November 6, 2026, as the date for the grand finale of Hackaholics 7.0, its flagship innovation platform.

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Themed “Festival of the Future.” The grand finale will bring together innovators, technology leaders, startup founders, investors and other key players in Nigeria’s innovation ecosystem for an immersive celebration of ideas, technology and the possibilities shaping the future.

Beyond the much anticipated announcement of this year’s Hackaholics Finalists, the event will feature innovation showcases, interactive experiences and conversations exploring how emerging technologies are transforming the way people live, work, build and create.

Designed to go beyond the traditional innovation competition, the Festival of the Future will provide a platform for participants and attendees to experience emerging technologies, discover innovative solutions, connect with industry players and engage in conversations about the opportunities and challenges of a rapidly evolving world. The event will also recognise and celebrate outstanding innovators whose ideas have demonstrated the potential to address real-world challenges and create meaningful impact.

Speaking on the significance of the grand finale and the inspiration behind the Festival of the Future, Wema Bank’s MD/CEO, Moruf Oseni, explained that the concept builds on the Bank’s commitment to creating a future of possibilities while encouraging Nigerians to take a more active role in shaping that future.

“The world is changing at an unprecedented pace. Artificial intelligence and emerging technologies are transforming industries, businesses and everyday life, creating opportunities that would have been difficult to imagine just a few years ago. The question is no longer simply what the future holds, but how prepared we are to shape it.

“This thinking inspired the Festival of the Future. We want to create an experience that brings innovation closer to people, encourages meaningful conversations and challenges us to think differently about how we will live, work, build and create in the years ahead,” he said.

Reaffirming Wema Bank’s commitment to supporting innovation and empowering young Nigerians, Oseni noted that Hackaholics has continued to evolve beyond a competition into a platform for discovering talent, nurturing ideas and connecting innovators with opportunities.

“Since we launched Hackaholics, our goal has remained consistent; to provide young Nigerians with the platform, resources, opportunities and support they need to transform their ideas into practical solutions. We believe that the future of innovation in Nigeria must be driven by the talent, creativity and potential of our people.

“With Hackaholics 7.0, we are taking that commitment further. Beyond recognising outstanding ideas, we want to bring together the people, conversations and experiences that can inspire the next generation of solutions. Our ambition is to continue building an ecosystem where innovation thrives, possibilities are unlocked and Nigeria is better positioned for the future,” he added.

Launched on July 1, 2026, under the theme “Powering Possibilities,”Hackaholics 7.0 commenced with a nationwide pitch centre tour designed to discover and support innovative ideas from young Nigerians across different regions of the country.

The four-month tour attracted 5,329 participants and 1,632 innovative ideas and solutions, with pitch centres hosted across seven locations: Uyo, Kano, Yabatech, Benin, Ibadan, Enugu and Lagos.

Through three distinct tracks; the Ideathon, Hackathon and Social Impact, the initiative provided opportunities for students, graduates, technology enthusiasts, developers and social innovators to present solutions addressing challenges across different sectors. The Ideathon focused on promising ideas, the Hackathon provided a platform for technology developers and builders, while the Social Impact track recognised solutions designed to deliver measurable value to society.

At the conclusion of the nationwide tour, 59 participants emerged from the various pitch centres, reflecting the diversity of ideas, talent and innovation discovered throughout the programme.

As Hackaholics 7.0 progresses towards its final stage, the 59 finalists will be further shortlisted to 20, who will present refined versions of their solutions at the Pre-Pitch scheduled for November 4, 2026.

On November 5, the participants will embark on an Ecosystem Tour powered by Wema Bank, providing an opportunity to visit other top institutions within the technology and innovation ecosystem, interact with industry professionals and gain practical insights ahead of the grand finale.

The journey will culminate on November 6 at the Festival of the Future, where the top innovators will be recognised and celebrated.

Through Hackaholics, Wema Bank continues to demonstrate its commitment to driving innovation, supporting entrepreneurship and creating opportunities for young Nigerians to contribute meaningfully to economic development.

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Theparkpay Technologies Limited Strengthens Global Payments Infrastructure with UK FCA Licence

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Theparkpay

Theparkpay UK FCA licence strengthens the fintech’s global payments infrastructure as it expands regulated cross-border services across key markets (more…)

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NDIC Commences Payment to Customers of 46 Failed Microfinance Banks

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NDIC

NDIC payments to depositors begin as customers of 46 failed microfinance banks receive insured refunds of up to N2 million (more…)

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