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LAGOS/LONDON - Guaranty Trust Holding Company PLC (GTCO) announced Friday that the UK Financial Conduct Authority has approved its prospectus for a secondary listing on the London Stock Exchange (LON:LSEG).
The Nigerian financial services group expects trading of its shares to commence on the main market of the London Stock Exchange on July 9, according to a statement based on the company’s press release.
The approval follows GTCO’s announcement on July 3 regarding the pricing of its primary equity offering. The prospectus contains details of the offering and has been submitted to the UK’s National Storage Mechanism.
Citigroup (NYSE:C) is serving as the sole global coordinator for the transaction, which involves listing GTCO’s ordinary shares in the equity shares (international commercial companies secondary listing) category of the Official List.
The prospectus is available on the company’s website and through the National Storage Mechanism, subject to certain access restrictions.
The company’s statement indicated that unconditional dealings in its shares are expected to begin at 8:00 am UK time on July 9.
GTCO has not disclosed the size or pricing of the offering in the announcement. The listing represents a significant step for the Nigerian financial institution as it seeks to expand its investor base internationally.
The offering excludes investors in several jurisdictions including the United States, Australia, Canada, Japan, and South Africa, as noted in the company’s regulatory filing.
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