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LAGOS - Guaranty Trust Holding Company Plc (GTCO) has successfully priced a primary equity offering on the London Stock Exchange (LON:LSEG), raising $105 million through the issuance of approximately 2.29 billion new ordinary shares, according to a company statement released Thursday.
The shares were priced at 70.00 Naira per share ($0.0459). Following the offering, GTCO’s issued share capital will total 36.43 billion shares, with approximately 99.9% in public hands.
Concurrently with the offering, GTCO announced plans to cancel its existing Global Depositary Receipts (GDRs) listing on the London Stock Exchange, replacing it with a direct listing of all ordinary shares on the equity shares category of the Official List of the UK Financial Conduct Authority.
Admission and unconditional dealing in the shares is expected to commence on July 9, 2025, under the ticker "GTHC," which the company plans to later change to "GTCO." The cancellation of the GDR listing is expected to take effect by July 31, 2025.
Citigroup (NYSE:C) Global Markets Limited acted as the sole global coordinator and bookrunner for the offering.
The offering remains conditional upon admission becoming effective and the underwriting agreement not being terminated according to its terms. Full details of the offering and admission will be included in a prospectus expected to be published following FCA approval.
The company statement indicated that GDR holders will be able to deposit their GDRs and receive Depositary Interests (DIs) from July 9, with the deadline for valid exchange requests set for July 24.
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