GT HoldCo replaces GTBank on NGX

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By Kayode Tokede

The entire 29,431,179, 224 issued shares of Guaranty Trust Bank (GTBank) were Thursday, delisted from the Daily Official List of the Nigerian Exchange Limited (NGX) while Guaranty Trust Holding Company Plc (GT Holdco) entire issued share capital of 29,431,179,224 ordinary shares of 50 Kobo each were also listed at N28.55 per share.

This move followed the regulatory approval of the restructuring of the bank to a holding company.

The stock market was earlier notified that trading in the shares of (GTB) was placed on full suspension effective Friday, 18 June 2021, in preparation for the delisting of GTB and listing of the Holding Company.

The delisting of GTBank and listing of GT HoldCo on NGX is pursuant to the Scheme of Arrangement between Guaranty Trust Bank Plc and the holders of its fully paid ordinary shares of 50 Kobo each as approved by the Securities and Exchange Commission and sanctioned by the Court.