Guaranty Tr Share Price (GTCO)

Can seem to find the ticker with any broker

Today, the shares debuted under the ticker GTHC on the LSE, but as we can see, there hasn’t been much improvement in terms of liquidity — there's no trading activity, unlike the GDRs, which have recently seen some volume, though still far from satisfactory.

It will be interesting to see if, in the coming weeks, there is any interest in this major Nigerian financial group.

If the dollar continues to weaken and inflation in Nigeria keeps falling — and nothing negative happens — the outlook could improve.

I still haven’t received a response from Interactive Brokers regarding their decision to place Nigerian stocks on the restricted trading list, even though it is currently possible to place sell orders for the GDRs (GTCO).

It seems that clients deserve a clear explanation for such a decision, especially since the company has just debuted on the LSE with regular shares (not GDRs).

Very interesting company — a Nigerian financial holding that includes one of the largest Nigerian banks with a broader African presence. Extremely high profitability and very low debt.

They have just announced that their illiquid GDRs will be converted into ordinary shares also listed in London, partly to improve liquidity. At the same time, they are conducting a share issuance — the second in recent times after last year’s issuance, which was reportedly prompted by increased capital requirements imposed by the Nigerian regulator.

What concerns me is the behavior of Interactive Brokers. The day before yesterday, they didn’t allow me to buy or sell the shares, displaying the message: 'No Trading Permission, Customer Ineligible; Ineligibility reasons: Restricted: IBKR does not permit trading in securities issued by countries on its prohibited country list.'

Yesterday, the restriction was lifted, but notices about restrictions due to the country of registration still appear in some places. My introducing broker (connected to IBKR) says they’re waiting for a response on the reason behind this and when the shares will be tradable again (they haven't mentioned anything about buying).

I haven't found any serious information about sanctions targeting Nigerian entities. There are some mentions of possible U.S. sanctions being considered, but these would presumably not apply to all Nigerian companies.

This situation is unclear to me, and together with the repeated share issuances, it adds an element of risk. That said, there are very few — if any — banks this profitable and this cheap, operating in such fast-growing markets, and still available for purchase on developed market exchanges.

Nice movement today. Good luck trying to buy though!