The UUBO Capital Markets team is pleased to have acted as Nigerian legal counsel to Citigroup Global Markets Limited, the Sole Global Coordinator, in connection with the offering of approximately 2.28 billion ordinary shares of Guaranty Trust Holding Company PLC (GTCO) and the successful admission of those shares to trading on the Main Market of the London Stock Exchange (LSE).
With Clifford Chance LLP serving as U.K. and U.S. counsel, the transaction marks a landmark development in Nigeria’s capital markets.
GTCO has become the first Nigerian financial institution to have its ordinary shares listed on the LSE under the equity shares category of the Official List of the UK Financial Conduct Authority (FCA).
The listing, which commenced at 8:00 a.m. London time on 9 July, 2025 reflects GTCO’s strategic push to broaden its international investors base, deepen access to global capital, and enhance liquidity of its shares and visibility across multiple jurisdictions.
The offering raised approximately US$100 million in proceeds, which will be utilised to support GTCO’s long-term growth and capital adequacy objectives, including compliance by its key subsidiary, Guaranty Trust Bank Limited, with the Central Bank of Nigeria’s recapitalisation directive ahead of the 2026 deadline.
We congratulate all parties whose collective effort and collaboration contributed to the successful completion of this landmark transaction.
UUBO is proud to support landmark transactions that contribute to Nigeria’s capital markets’ continued growth and integration and across other sectors of the Nigerian economy.
The UUBO team was led by partners, Yinka Edu and Joseph Eimunjeze. They were supported by Managing Associate, Lisa Esamah, and Associates, Damilola Opayinka, Omeiza Alao, Adaobi Uzo Omosefe and Joel Adeyemi Adefidipe.
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