Global Depositary Receipt (GDR) FAQs

DataMax Registrars Limited is the Nigerian Administrative Agent to the Domestic Offering of the Guaranty Trust Bank GDRs. Our main function is to maintain the register of the holders of the Domestic Offering GDRs. Beneficial Holders or GDR Holders are the investors whose allotments under the Domestic Offering have been confirmed by way of the issue of Allotment Statements and Certificates in their respective names. Beneficial GDR Holders will receive the benefits of owning the GDRs (dividends, voting rights, capital appreciation).

The GDRs, are denominated in dollars and traded on The London Stock Exchange [LSE] while the ordinary shares are denominated in Naira and traded on The Nigerian Stock Exchange (NSE)
Dividends on the GDRs are paid in United States dollars.

Do I have the same rights as ordinary shareholders of the Bank?

GDR pricing information can be obtained on Bloomberg ( and Reuters ( by inserting the ticker symbol as follows:
1. Reuters – GUARq.L
2. Bloomberg – GRTB LI EQUITY

The GDR pricing information is also available on GTBank PLC’s web site

You can obtain up-to-date information about your GDR Holding from the Administrative Agent – DataMax Registrars Limited, 2C, Gbagada Expressway Gbagada Phase 1, Lagos Nigeria or from our Online Shareholder Portal.

There are three distinct secondary market transaction categories/structures available to Domestic GDR Holders:
• Domestic Over-the-Counter GDR Transactions;
• Trading GDRs via the International Order Book (“International Trade”); and
• Issuance or Cancellation (“Conversion”) of GDRs
• The GTBank GDRs are fungible, which means existing ordinary shares can be surrendered to create new GDRs and existing GDRs can be cancelled and converted to underlying shares of GTBank.

• There are transaction charges, which will be borne by the investors on a case by case basis, depending on the secondary market transaction type.
• Click here to download the Process Flow for GDR Conversion