Nigeria’s GTBank Raises $105 Million in London Share Sale

Guaranty Trust Holding Co., the parent company of Nigeria’s biggest lender by market value, raised $105 million in its first international share sale, a prelude to its listing on the London Stock Exchange.

The amount was more than the $100 million that the parent company of Guaranty Trust Bank Plc had initally planned to raise, according to regulatory filing. The shares were sold at the equivalent of 70 naira ($0.05) per share through a book building process, representing a 15% discount to the lender’s share price of 82.75 naira as of 2.30 p.m. in Lagos on Thursday. ...