GTCO Begins Trading in London Stock Exchange
Guaranty Trust Holdings Company (Ticker: GTCO) has started to trade on the London Stock Exchange (LSE) on Wednesday following a successfully priced primary equity offering.
The banking giant is the first financial institution that is able to achieve the feat. In a statement, the financial services group said 36.4 billion of its ordinary shares have been admitted to the main market of the London Stock Exchange for immediate trading and dealing, according to a statement on its website.
GTCO announced that its entire issued share capital, consisting of 36,425,229,514 shares, has today been admitted to the equity shares (international commercial companies’ secondary listing) category of the Official List of the United Kingdom Financial Conduct Authority.
In addition, the holding company highlighted that its shares are now trading under ticker GTHC and plans to change to GTCO after cancellation of its GDRs.
Before its LSE listing, foreign portfolio investors have been active in the Nigerian market, ramping up GTCO due to its strong earnings performance and increased market share. In the banking sector, GTCO has one of the lowest costs of funds, reflecting its deep footprint in the retail segment.
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