GTCO has surged to N122.3 per share on the London Stock Exchange. The stock, listed on the London Stock Exchange under the ticker GTHC, rose by 14.5 percent on Tuesday, July 15, to close at $0.08 per share.
At the prevailing exchange rate of N1,529/$ on the same day, this translates to N122.32 per share, representing a 30 percent premium over its current trading price of N93.85 on the Nigerian Exchange (NGX).
Since listing on the LSE on July 9, GTHC has gained 33.3 percent, as it listed at a share price of $0.06.
However, on the NGX, it has only gained 9 percent, rising from a share price of N85.95 to N93.85.
While most of the trading activity in GTCO Holdings has taken place on the Nigerian Exchange (NGX), the spotlight shifted to the London Stock Exchange (LSE) on July 15, when the NGX closed for a public holiday. On that day, GTHC recorded a notable trading volume of 17.49 million shares on the LSE.
As the NGX reopens on July 16, market watchers anticipate a potential price rally, driven by investors looking to capitalise on the arbitrage opportunity presented by the company’s dual listing.
Looking ahead, the 2.29 billion newly issued shares from GTCO’s recent equity offering are set to be listed simultaneously on both the LSE and NGX on July 31, an event expected to enhance liquidity for Nigeria’s most capitalised banking group.
So far in 2025, GTCO Holdings has delivered an impressive 64.7 percent year-to-date return on the NGX, making it the best-performing banking stock on the exchange.