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JPMorgan Announces Mandate For First Nigerian GDR In London


London.- JPMorgan Worldwide Securities Services today announced it is acting as depositary bank for Guaranty Trust Bank plc (“GTBank”), which completed the first Global Depositary Receipt offering in London for a Nigerian company.

Shaun Parkes, global head of sales for JPMorgan Worldwide Securities Services’ depositary receipts business, said, “We are very pleased to have been chosen as depositary for GTBank in this landmark transaction, and we look forward to assisting the company in its efforts to further raise its profile and liquidity among international investors.”

GTBank, which offers financial services in Nigeria and other West African countries, in July listed on the London Stock Exchange in the largest international equity offering by a Nigerian company. JPMorgan Securities Ltd. acted as joint global coordinator and joint bookrunner for the offering, the investment bank’s fifth transaction in Nigeria this year. GTBank is the first African bank to list on the London Stock Exchange.

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