GTCO Rises Amidst Update On Total Voting Rights

Guaranty Trust Holdings Company Plc (GTCO) share price climbed to N89 in the stock market as investors’ sentiment improved amidst a broad-based rally that lifted the Nigerian Exchange (NGX) higher by N2.43 trillion.

BrandNewsDay reports that GTCO’s share price climbed amidst total voting rights disclosure released at the London Stock Exchange (LSE) as required by the UK financial watchdog for listed companies.

Trading activities on GTCO have been heavy in the local bourse, reflected in its occasional price swings depending on market direction and investors’ sentiment.

Trading details from the Nigerian bourse showed that GTCO rose by 3.01% week on week to N89 from N86.4 at the beginning of the week. The surge came as investors traded more than 3 million units of GTCO shares valued at N265.888 million on Friday.

This gain lifted its market value of GTCO’s 36.425 billion outstanding shares to N3.241 trillion at the close of the trading session on Friday, which is about 14% below the highest value reached on NGX in 52 weeks.

In conformity with the Financial Conduct Authority (FCA) disclosure and transparency rule, GTCO advises that as of Dec 1, its issued ordinary share capital comprises 36.425 billion ordinary shares at a par value of $0.001 each.

Each ordinary share is entitled to one vote per share, GTCO said, adding that the figure may be used by shareholders as a denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, GTCO under the disclosure.