White & Case advises Guaranty Trust Holding Company on secondary listing in London

Global law firm White & Case LLP has advised leading sub-Saharan financial services franchise Guaranty Trust Holding Company (GTCO) on its fully marketed offering of shares and on the admission of its ordinary shares to listing in the Equity Shares (International Commercial Companies Secondary Listing) category of the Official List of the UK Financial Conduct Authority (FCA) and to trading on the Main Market for listed securities of the London Stock Exchange (LSE).

"The White & Case team supported our long-standing client GTCO on an historic deal," said White & Case partner Stuart Matty, who co-led the Firm's deal team. "Having advised the bank on a market-first GDR listing on the LSE in 2007 and the group's corporate reorganization in 2022, our long-standing relationship with GTCO demonstrates our enduring commitment to our clients and their long term success as well as the multidisciplinary offering we bring to bear for our clients in Africa."

White & Case partner Inigo Esteve, who co-led the deal team, said: "The success of this transaction demonstrates the value of recent UK listing reforms as well as highlighting that the LSE continues to be a positive venue for international companies to raise finance. We expect this trend to continue in the future."

Nigeria-headquartered GTCO, through its banking subsidiary Guaranty Trust Bank Ltd, was established in 1991 and is one of the largest financial services organisations in Africa by total assets, with a network of banking and non-banking subsidiaries conducting business in 11 countries across Africa and in the UK.

The White & Case team in London which advised on the transaction was led by partners Stuart Matty, Inigo Esteve and Melissa Butler and included associates Amulang Povaeva and Greg Brown.

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