Nigeria: GTCO Holdings Makes Historic LSE Listing and Launches USD 100M Capital Raise to Meet Regulatory Requirements

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GTCO Holdings is set to make history by becoming the first Nigerian banking group to list all its ordinary shares directly on the London Stock Exchange (LSE). This milestone listing marks a significant step in the group’s international expansion and investor outreach strategy.

Coinciding with the LSE listing, GTCO has also announced a USD 100 million capital raise via a public offering of new ordinary shares. The offering commenced on July 2 and is being managed by global investment banking giant Citigroup. The fundraising is being conducted through an accelerated bookbuild—a rapid equity issuance process typically finalised within 24 to 48 hours. This method targets institutional investors primarily in the United Kingdom, the United States, and other global financial markets. Shares are usually offered at a discount to attract swift investor participation.

The capital raised from this initiative will be channelled toward recapitalising GTBank Nigeria, a core subsidiary of the group. This move is intended to ensure the bank meets the N500 billion minimum capital requirement mandated by Nigerian regulators for banks holding international licenses. This requirement is part of broader regulatory efforts to strengthen the resilience and global competitiveness of Nigerian banks.

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GTCO’s capital raise follows in the footsteps of other major Nigerian banking groups like Access Holdings and Zenith Bank, both of which have already met or surpassed the new capital benchmark. GTCO’s dual approach—securing international investor backing through an LSE listing while reinforcing domestic regulatory compliance—signals a robust strategic pivot toward long-term sustainability and global visibility.