GTCO Climbs to $0.08 on LSE as NGX Remains Shut, Premium Hits 30%

Guaranty Trust Holding Company Plc (GTCO) gained 14.5 percent on the London Stock Exchange (LSE) on Tuesday, July 15, 2025, closing at $0.08 per share under the ticker GTHC, as domestic investors observed a public holiday in Nigeria.

At the official exchange rate of ₦1,529 to the dollar, the LSE price translates to ₦122.32 per share, representing a 30.4 percent premium over GTCO’s last traded price of ₦93.85 on the Nigerian Exchange (NGX).

The cross-border price divergence reflects growing investor interest in the stock following its recent dual listing.

Since listing on the LSE on July 9, 2025, at $0.06 per share, GTCO has gained 33.3 percent, compared to a modest 9 percent increase on the NGX where the stock rose from ₦85.95 to ₦93.85 within the same period.

The price appreciation on the LSE was supported by a significant trading volume of 17.49 million shares on July 15, despite limited activity on the domestic exchange due to the Sallah holiday.

Market analysts expect that the reopening of the NGX on Wednesday, July 16, could trigger a near-term rally in GTCO shares, as investors attempt to close the arbitrage gap between the LSE and NGX valuations.

The bullish momentum is further underpinned by the upcoming listing of 2.29 billion newly issued shares on both the NGX and LSE on July 31, which is expected to enhance liquidity and strengthen GTCO’s positioning as Nigeria’s most capitalised banking group.

Year-to-date, GTCO Holdings has delivered a 64.7 percent return on the NGX, making it the best-performing banking stock in 2025.

The group continues to attract strong institutional and foreign investor interest following its successful international equity offering and expansion strategy.

The performance gap between the two exchanges has raised expectations of repricing on the NGX in the coming sessions.

Analysts note that dual listings can create price imbalances in the short term, but arbitrage trades often drive convergence once liquidity and access stabilise across platforms.

GTCO’s cross-listing move aligns with its broader strategy to deepen foreign investor participation, enhance visibility in global markets, and diversify its capital base. With a strong performance record and strategic expansion across key African markets, GTCO remains a top-tier equity for institutional portfolios tracking the Nigerian financial sector.