Latest news with #dualListing
Zawya
04-07-2025
- Business
- Zawya
Guaranty Trust Holding Company Plc (GTCO Plc) Becomes the 1st Financial Services Institution in West Africa to Achieve Listing and Trading of its Ordinary Shares on the London Stock Exchange
Guaranty Trust Holding Company Plc (GTCO Plc) ( Africa's leading and most profitable Financial Services Group, has recorded a significant milestone in its growth and expansion journey with the successful admission of its Ordinary Shares to the Equity Shares (International Commercial Companies Secondary Listing) category of the Official List of the Financial Conduct Authority (FCA) and to trading on the main market for listed securities of the London Stock Exchange. This historic achievement makes GTCO Plc, the 1 st Financial Services Institution in West Africa to dual list its Ordinary Shares on both the Nigerian and London stock exchanges, and subject to certain criteria, it is expected that the Shares will be transferrable between the two exchanges. The admission follows the successful pricing of its fully marketed offering (The Offering) on the London Stock Exchange to raise gross proceeds of $105million in exchange for 2.29 billion of new ordinary shares in the company, which was supported by a strong book of high-quality, long-term institutional investors. Concurrent with the Offering, the Company also gave notice of its intention to cancel the listing of its existing GDRs on the certificates representing certain securities (depositary receipts) category of the Official List of the United Kingdom Financial Conduct Authority ('FCA') and the admission to trading of GDRs on the London Stock Exchange's main market for listed securities. Building on the momentum of the successful first tranche of its equity capital raise programme in July 2024, which secured ₦209 billion, GTCO will deploy the proceeds from the Offering to strengthen its capital base, meet its recapitalization target, and fund strategic expansion across high-growth markets and priority sectors within and outside Nigeria. It is expected that Admission and unconditional dealing in the Shares will become effective on or before 8.00 a.m. (UK time) on 9 July 2025 under the ticker 'GTHC'. Following the cancellation of the GDRs listing, the Company intends to change the ticker symbol for the Shares from 'GTHC' to 'GTCO' and will issue a separate announcement in due course to that effect. Commenting on the LSE Listing, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: 'Today marks a major milestone—not just for GTCO, but for the future we see for African financial institutions on the global stage. We are incredibly proud to be the 1 st Financial Services Institution in West Africa to list our ordinary shares on London Stock Exchange's main market for listed securities, and even more honored by the trust placed in us by the investing community. For us, this was not just about raising capital. It was about validating the strength of our franchise, the clarity of our strategy, and the discipline with which we execute.' He further said; 'I would like to thank everyone who made this possible—our advisors and legal teams, our longstanding shareholders, the regulators both in Nigeria and in the UK, as well as the Nigerian government for creating an environment that supports our bold ambition and vision to be Africa's leading financial services institution.' GTCO's fully marketed offering attracted long-term institutional capital, reflecting investor confidence in the Group's fundamentals, governance, and strategic outlook. It also signals improving market sentiment, buoyed by ongoing economic reforms by the Federal Government and a return to traditional orthodox monetary policy by the Central Bank of Nigeria, which have gone a long way to stabilising the macroeconomic environment and gradually restoring investor confidence in Nigeria's long-term prospects. Distributed by APO Group on behalf of Guaranty Trust Holding Company Plc. About GTCO Plc: GTCO Plc is one of Africa's leading financial services institutions with a longstanding track record of strong growth, service excellence, and shareholder returns. The Group operates across banking, payments, asset management, and pension administration in eleven countries, including Nigeria, the UK, and key African markets.
Reuters
16-06-2025
- Business
- Reuters
NYSE-parent Intercontinental Exchange to dual list on NYSE Texas
June 16 (Reuters) - New York Stock Exchange-parent Intercontinental Exchange (ICE.N), opens new tab said on Monday it would dual list on NYSE Texas, effective June 17. NYSE Texas officially opened for business in March and has lured a string of companies to dual list on its bourse in recent weeks. ICE said it would maintain its primary listing on the NYSE.
Yahoo
16-06-2025
- Business
- Yahoo
ICE to dual-list on NYSE Texas
ATLANTA, June 16, 2025--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data and parent company of the New York Stock Exchange (NYSE), today announced that it will dual-list on NYSE Texas, effective June 17, 2025. "Founded 25 years ago and listed on the NYSE for nearly two decades, ICE has consistently worked to stay at the forefront of innovation in capital markets," said Jeffrey C. Sprecher, ICE Chair & Chief Executive Officer. "Supporting the momentum in Texas as Governor Abbott and his team create an environment where companies can thrive, we are delighted to join the community of companies listed on NYSE Texas." Building on the NYSE's 230 years of experience as the world's leading exchange operator, NYSE Texas launched earlier this year as the first securities exchange to operate in the State of Texas. NYSE Texas offers a new listing and trading venue for companies attracted to the state's pro-business landscape. In its first three months, 10 companies from a range of sectors have chosen to dual-list on NYSE Texas. The full list of companies listed on NYSE Texas can be found here. ICE will maintain its primary listing on the NYSE. About Intercontinental Exchange Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE's futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world's largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity. Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)." Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 6, 2025. Category: EXCHANGESICE-CORPSource: Intercontinental Exchange View source version on Contacts ICE Media: Rebecca Mitchellmedia@ +44 7951 057 351 ICE Investor: Katia (678) 981-3882
Reuters
28-05-2025
- Business
- Reuters
VEON considering dual listing in the UAE in 3-5 years
DUBAI, May 28 (Reuters) - Nasdaq-listed telecom company VEON ( opens new tab, is considering a dual listing in the United Arab Emirates (UAE) in the next three to five years, its CEO said on Wednesday, after moving its headquarters to Dubai from Amsterdam last year. VEON is the parent company of Ukraine's Kyivstar and Pakistan's Jazz, the two countries' largest mobile operators, respectively. "We have of course moved our headquarters with all the intentions about the future relevance for these markets," CEO Kaan Terzioglu said during an event in Dubai. "At a certain point I think this (a UAE listing) will be inevitable." Terzioglu added that investors in the Gulf region had a better understanding of VEON's markets. VEON is shifting to a "digital operator" strategy, offering financial, healthcare and entertainment services in addition to mobile connectivity. It also operates in Uzbekistan, Kazakhstan, Kyrgyzstan and Bangladesh. Terzioglu said VEON might also consider initial public offerings (IPO) of its subsidiaries in the UAE along the same timeline. Kyivstar is already planning a U.S. listing later this year with a pro-forma valuation of $2.21 billion. Asked whether the company might look to expand to other markets in the Middle East, Terzioglu said that Iraq and Syria would play an important role in the future and that the firm was in talks with investors there. "I believe, especially the changes in Syria, (with) the new government being in place, basically, the country is reborn. And it perfectly fits into a large population, unmet demand market," he said. He said, however, that more work was needed in terms of regulations, tax regimes before the company could make a definitive commitment in Syria. Terzioglu added that VEON, which recently signed an exclusive partnership with Elon Musk's Starlink to develop and provide direct-to-cell connectivity in Ukraine, was in talks with the company over potential partnerships across the other markets where it operates. VEON is also in talks for partnerships with other satellite companies including ASD and Eutelsat ( opens new tab's OneWeb.
Fast Company
23-05-2025
- Business
- Fast Company
Brazilian meat giant JBS gets closer to listing on the NYSE—despite ‘history of corruption'
Brazilian meat giant JBS came a step closer Friday to its long-held goal of trading its shares on the New York Stock Exchange. The company's minority shareholders voted to approve the company's plan to list its shares both in Sao Paulo and New York, casting aside opposition from environmental groups, U.S. lawmakers and others who noted JBS' record of corruption, monopolistic behavior and environmental destruction. JBS Global CEO Gilberto Tomazoni said the outcome showed shareholders were confident in the benefits a dual listing would bring. The company said before the vote that listing shares in the U.S. would boost its global profile and attract new investors. JBS said it expected to begin trading on the New York Stock Exchange on June 12. The U.S. Securities and Exchange Commission granted the company's request to list its shares in New York late last month. JBS is one of the world's largest food companies, with more than 250 production facilities in 17 countries. Half of its annual revenue comes from the U.S., where it has more than 72,000 employees. It's America's top beef producer and it's second-largest producer of poultry and pork. JBS's plan—which has been in the works for years—has generated significant pushback. Last fall, 20 environmental organizations—including Mighty Earth, Greenpeace and Rainforest Action Network—signed an open letter to JBS investors opposing the listing, saying it would put the climate at greater risk. Glass Lewis, an influential independent investor advisory firm, was also among those recommending that shareholders reject the plan. In its report, Glass Lewis said the recent return of brothers Joesley and Wesley Batista to the JBS board should concern investors. The brothers, who are the sons of JBS' founder, were briefly jailed in Brazil in 2017 on bribery and corruption charges. 'In our view, the involvement of the company and of Joesley and Wesley Batista in multiple high-profile scandals has tarnished the company's reputation, undermining stakeholder trust and posing a significant risk to its competitive position,' Glass Lewis said. Glass Lewis also objected to the company's plan for dual share classes, which would give the Batistas and other controlling shareholders more voting power. In its response to Glass Lewis' report, JBS said it has established more stringent controls and anti-corruption training at the company in recent years. It also said a U.S. listing would ensure more oversight from U.S. authorities. 'We believe this transaction will increase our visibility in global markets, attract new investors and further strengthen our position as a global food industry leader,' Tomazoni said in a statement last month when the company announced Friday's vote. Many U.S. lawmakers also aren't convinced JBS belongs on the New York Stock Exchange. In a letter sent last week to JBS, U.S. Sen. Elizabeth Warren, a Massachusetts Democrat, noted that Pilgrim's Pride —a U.S. company owned by JBS—was the largest single donor to President Donald Trump's inaugural committee, with a $5 million gift. The SEC's approval came just weeks after that donation, Warren said. 'I am concerned Pilgrim's Pride may have made its contribution to the inaugural fund to curry favor with the Trump administration,' Warren wrote in the letter, which asked the company why the donation was made. In a statement, JBS said it has a 'long bipartisan history of participating in the civic process.' Warren was also among a bipartisan group of 15 U.S. senators who sent a letter to the SEC in January 2024 urging the agency to reject a U.S. listing for JBS. The senators, a diverse group that rarely agrees on policy, included Republicans Marco Rubio of Florida and Josh Hawley of Missouri, Democrat Cory Booker of New Jersey and Independent Bernie Sanders of Vermont. The letter noted that in 2020, J&F Investments, a controlling shareholder of JBS that is owned by the Batista family, pleaded guilty to bribery charges in U.S. federal court and agreed to pay fines of $256 million. It also said Pilgrim's Pride pleaded guilty to price-fixing charges in 2021. And it said U.S. Senate investigations found that JBS is 'turning a blind eye' to rainforest destruction in the Amazon by its suppliers. 'Approval of JBS' proposed listing would subject U.S. investors to risk from a company with a history of blatant, systemic corruption, and further entrench its monopoly power and embolden its monopoly practices,' the letter said.
