Clifford Chance

Clifford Chance advises Citigroup as the Sole Global Coordinator and Sole Bookrunner on the international share offering and London listing of Guaranty Trust Holding Company

Global law firm Clifford Chance has 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 following an accelerated bookbuilding process.

Headquartered in Lagos, Nigeria, the GTCo group is one of the largest financial services organisations in Africa by total assets with operating subsidiaries in 11 countries across Africa and the United Kingdom, offering a comprehensive range of commercial banking and related financial services to millions of retail, corporate, institutional, private and wealth management customers, in addition to funds and asset management, pension fund administration and payment technology/financial transactions processing operations.

The Clifford Chance team was led by Capital Markets partners Simon Thomas and Johannes Juette, with support from senior associate Yuli Adagun, US associate Geoffrey Adonu and trainee solicitor Rumana Ali.

In conjunction with the share offering, GTCo will cancel its GDR listing in London and replace it with 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.