Guaranty Trust Holding Company PIc (GTCO) has successfully priced its fully marketed offering on the London Stock Exchange (LSE), aiming to raise gross proceeds of N160.3 billion ($105 million).
Gatekeepers News reports that in a statement filed with Nigerian Exchange (NGX) on Friday and signed by Erhi Obebeduo, Group General Counsel and Company Secretary, GTCO said it would issue approximately 2.29 billion new ordinary shares at N70 per share ($0.0459).
The move comes alongside plans to delist its Global Depositary Receipts (GDRs) from the LSE by July 31 and replace them with the newly issued ordinary shares.
The offering is conditional on the admission of the shares to the FCA’s official list and the LSE’s main market, expected to take effect on or before 8:00 a.m. (UK time) on July 9, under the ticker “GTHC”.
The bank disclosed its intent to later update the ticker symbol to “GTCO” following the GDR cancellation.
After the listing, GTCO’s issued share capital will total 36.4 billion shares, with about 99.9% in public hands.
The company also disclosed that full offering details will be published in a prospectus on its website by Saturday. Citigroup Global Markets Limited served as the sole global coordinator and book-runner for the transaction.
