Clifford Chance Advised Citigroup On International Share Offering And London listing Of Guaranty Trust Holding Company
Clifford Chance advised Citigroup on international share offering and London listing of Guaranty Trust Holding Company
11 July 2025, London: Clifford Chance advised Citigroup Global Markets Limited ("Citigroup") as sole global co-ordinator and sole bookrunner on the international offering of shares and London listing of Guaranty Trust Holding Company (GTCo). The transaction raised approximately $105 million in gross proceeds for GTCo through an accelerated bookbuilding process.
Headquartered in Lagos, Nigeria, the GTCo group is one of Africa’s largest financial services organisations by total assets, with operating subsidiaries in 11 countries across Africa and the United Kingdom. It offers a comprehensive range of commercial banking and related financial services to millions of retail, corporate, institutional, private, and wealth management customers, alongside funds and asset management, pension fund administration, and payment technology and financial transactions processing operations.
In conjunction with the share offering, GTCo will cancel its GDR listing in London and replace it with a share listing under the new international commercial companies secondary listing category of the Official List of the UK Financial Conduct Authority, which came into effect in July 2024. GTCo will continue to maintain its Nigerian listing of its shares.
The Clifford Chance team was led by Simon Thomas (Partner) and Johannes Juette (Partner), with support from Yuli Adagun (Senior Associate), Geoffrey Adonu (US Associate), and Rumana Ali (Trainee Solicitor).
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