Capital Market

Guaranty Trust HoldCo Plc Commemorates Listing On Nigerian Exchange

Published

2 years ago

July 13, 2021

Business Echo Magazine

L – R shows Temi Popoola, CFA, Chief Executive Officer, Nigerian Exchange (NGX) Limited presenting a replica of NGX Closing Gong to Segun Agbaje, Group Chief Executive Officer, Guaranty Trust Holding Company (GTCO) Plc; during a Closing Gong Ceremony to commemorate the listing of GTCO on NGX on Tuesday, 13 July 2021.

…NGX Closing Gong Ceremony to Commemorate the Listing of GT Holding Company Plc

Olushola Okunlade Writes

Guaranty Trust Holding Company Plc (GT HoldCo Plc) commemorated the listing of its shares on Nigerian Exchange (NGX) with a Closing Gong Ceremony on Tuesday, 13 July 2021.

The event also featured the reveal of the company’s new brand identity to capital market stakeholders and members of the general public.

Speaking at the event, the Chief Executive Officer, NGX, Mr. Temi Popoola, CFA stated, “We are excited to welcome GTCO Plc and to congratulate the Board and Management on a successful restructuring.

Left–Right: Ibrahim Hassan, Non-Executive Director, GTBank Plc; Segun Agbaje, Group Chief Executive Officer, Guaranty Trust Holding Company (GTCO) Plc; Temi Popoola, CFA, Chief Executive Officer, Nigerian Exchange (NGX) Limited; Osaretin Demuren, Chairman, GTBank Plc; Miriam Olusanya, Executive Director, GTBank Plc and Seyi Osunkeye, Non- Executive Director, NGX Limited during a Closing Gong Ceremony to commemorate the listing of GTCO on NGX on Tuesday, 13 July 2021.

Given the recent completion of demutualisation of the Exchange and the emergence of our new structure, we see many similarities between our organisations, particularly our outlook on the use of technology to advance business operations; the burgeoning opportunities in the retail market; and the importance of good governance in the corporate space.

Today, we reiterate our commitment to being a trusted partner to GTCO and other listed companies and issuers as we continue to build a platform that allows our listed companies, investors and other stakeholders to maximise value in our market.”

On his part, the Group Chief Executive Officer, GTCO Plc, Mr. Segun Agbaje, noted that, “On behalf of the Board and Management of GTBank and the newly formed GTCO, I must thank NGX for its unwavering support in listing GTCO on The Exchange. At GTCO, we are very excited about the opportunities that have opened up to us with this restructuring, particularly because diversifying our income base has always been a major priority. As we venture into this new phase, we look forward to leveraging technology and introducing new business lines – including payments, asset management and more – that go beyond the needs of institutional or wholesale clients to improve retail clients’ access to the financial markets.”

Left–Right: Temi Popoola, CFA, Chief Executive Officer, Nigerian Exchange (NGX) Limited presenting a replica of NGX Closing Gong to Segun Agbaje, Group Chief Executive Officer, Guaranty Trust Holding Company (GTCO) Plc; during a Closing Gong Ceremony to commemorate the listing of GTCO on NGX on Tuesday, 13 July 2021.

Also present on the trading floor of NGX to sound the gong and bring the day’s trading to a close were Mrs. Osaretin Demuren, Outgoing Chairman, GTBank Nigeria; Mr. Ibrahim Hassan, Non-Executive Director, GTBank Nigeria; Mr. Hezekiah Oyinlola, Non-Executive Director, GTBank Nigeria; Mrs. Cathy Echeozo, Former, Executive Director, GTBank Nigeria and Chairperson, NGX Regulation Limited; Mrs. Miriam Olusanya, Executive Director, GTBank Nigeria; Mr. Babajide Okuntola, Executive Director, GTBank Nigeria; Mr. Seyi Osunkeye, Non-Executive Director, NGX Limited; Mr. Kamarudeen Kareem Oladosu, Non-Executive Director, NGX Limited; Mr. Yomi Adeyemi, Non-Executive Director, NGX Limited and Mr. Jude Chiemeka, Divisional Head, Trading Business, NGX Limited.

It would be recalled that GTCO officially listed its shares on NGX on 28 June 2021 following the restructuring of Guaranty Trust Bank (GTB) Plc. At the time, the shares of GTB were officially delisted from the market, and GT HoldCo’s entire issued share capital of 29,431,179,224 ordinary shares of 50 kobo each were listed on the bourse.

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Related Topics:#closinggong #NGX #ngxceo #ngxgroup #ngxrebrand

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Capital Market

NGX Group To Celebrate 2023 International Women’s Day 2023, Ring Bell For Gender Equality

Published

4 weeks ago

February 22, 2023

Business Echo Magazine

NGX Group of Companies 2023 International Women's Day and Ring the Bell for Gender equality

Olushola Okunlade Writes

NGX Group of Companies plans to celebrate 2023 International Women’s Day and Ring the Bell for Gender equality.

NGX Group of Companies recognises that investing in women’s empowerment in the workplace, marketplace, and community is of strategic importance to business growth and sustainability.

For this reason, NGX Group has chosen to celebrate IWD as part of the global UN SSEI event hosted by over 80 securities exchanges in collaboration with the UN Global Compact, UN Women, IFC, and WFE (the “Global Partners”).

The theme of this year’s celebration is ‘Embrace Equity’ and it seeks to celebrate women’s achievements, raise awareness about discrimination and take action to drive gender parity. To this end, our 2023 IWD celebration would build on the global theme, Embrace Equity.

Date: Wednesday, 8 March 2023
Time: 1:00 pm – 2:30 pm (WAT)
Venue: Zoom & Live streamed on YouTube

Participants are to register to attend: bit.ly/ngx-iwd-2023

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Capital Market

Domestic Investors Shun Risks, Stocks On 5-Month Rally

Published

1 month ago

February 22, 2023

Business Echo Magazine

Domestic Investors Shun Risks, Stocks On 5-Month Rally

Olushola Okunlade Writes

Few days to go before Nigeria’s highly anticipated general elections, domestic investors in the local bourse are scooping up positions in stocks, shunning potential risks from the impacts of voter’s choices.

Nigerian Exchange Limited (NGX) All-Share Index (ASI) is up 5.80% already in 2023 as of market close on 20 February 2023, maintaining a bullish run from September 2022. Data from NGX revealed that this has been a result of the outsized participation from domestic investors, who currently occupy 84% of total transactions conducted on the Exchange.

Foreign participation in the local bourse has so far moderated in recent years due to issues around forex liquidity and monetary policy, placing their turnover at 16% according to the December 2022 edition of the Domestic and Foreign Portfolio Investment Report of the Exchange. Analysts have commented that this is in due part a result of unimpressive yield in fixed-income securities, pushing investors to buy up fundamentally strong stocks with attractive dividend yields.

Historically, the market has typically experienced volatility during election season with some notable years, particularly the 1999 election – which saw change from military rule – and 2015 election – which saw the first incumbent defeat at the polls – experiencing declines pre-election. The positive domestic investor sentiment, according to analysts, has been driven mostly by strong earnings releases and dividend payouts announced by companies in the wake of earnings season. However, some have advised cautious trading as the 2023 elections approach but maintained their positive outlook on dividend yields and capital appreciation in bellwether stocks.

An analyst with Parthian Securities, Azeezat Awonuga, whilst commenting on the market with CNBC Africa said that investors are poised to hunt for gains in the stock market as the fixed income yields have moderated in recent times. “As we anticipate earnings from the banking sector which comprises about 60% of the volume in the market and also form the bulk of the fundamentals, positive earnings will push investors to plow more funds into the market,” she stated.

Another investment research analyst from Investment One Capital Management Limited, Akosile Oluwasanmi noted to Channels that uncertainties around the elections and the cash crunch in the economy could dampen investor sentiment into taking profits but positive corporate earnings could also see investors increasing their positions.

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