Guaranty Trust Holding Company Plc (GTCO) Group Chief Executive Officer, Segun Agbaje, has reflected on the complex regulatory journey to gaining approval for listing on the London Stock Exchange, particularly the stringent requirements imposed by both the Exchange and the UK’s Financial Conduct Authority.
GTCO on Wednesday, July 9, 2025, marked a significant milestone in its international expansion efforts with the successful dual listing of its ordinary shares on the London Stock Exchange (LSE).
This development positions GTCO as the first financial services institution in West Africa to list its shares on both the Nigerian Exchange (NGX) and the LSE’s main market, underlining the group’s growing global footprint.
This followed the successful pricing of a fully marketed offering on the LSE, which raised gross proceeds of $105 million through the issuance of approximately 2.29 billion new ordinary shares. The offering attracted a strong book of high-quality, long-term institutional investors.
GTCO’s shares are now trading on the LSE under the ticker “GTHC,” with a plan to revert to “GTCO” once its Global Depository Receipts (GDRs) are delisted—reflecting its current corporate identity.
“It’s very challenging. I mean, I can’t tell you. It’s not only the exchange that you have to meet. You have to meet the FCA,” Agbaje explained.
“It’s the financial regulator here. I think, honestly, the takeaway is really you have to learn how to play by the rules. Because you’ll be surprised how much pops up.”
He added that the due diligence process was exhaustive, with regulators combing through not just financial data, but public perceptions and media coverage of the company and its leadership.
In that context, he made a pointed appeal to Nigerians regarding media responsibility.
“The other takeaway, which I pray we understand in Nigeria, is that we’ve got to use the media a bit more responsibly,” Agbaje urged. “Because when you do a due diligence on a company, everything that has been said about that company or the individuals pops up. And you have to defend it. But people don’t see that.
So you go through a lot of that. And you have to debunk. You have to confirm. You have to explain.”
GTCO’s successful listing represents a major step in deepening investor access, enhancing transparency, and affirming its commitment to global standards of corporate governance and financial reporting.