GTCO Consolidates, Acquires Two Subsidiaries Of IOFSL As Equities Market Closes Negative

metro

2 years ago

Determined to consolidate on its new status as a holding company, Guaranty Trust Holding Company Plc has acquired two subsidiaries of Investment One Services Limited, (IOSL)

Consequently, Investment One Funds Management Limited (IOFM) and Investment One Pension Managers Limited (IOPM) have become subsidiaries of GTCO Plc.

According to information Sent out to clients and signed by

Nicholas Nyamali
Group Managing Director of the IOSL, the action will also enable them to focus on delivering more value to their wealth management and investment banking customers as well as focus on executing international expansion plans.

This is even as the equities market closed southwards on Monday, February 7, due to the losses printed in the Oil/Gas and Consumer Goods sectors.

Specifically, the market closed in negative territory by 0.16% as NGX-ASI closed at 47,203.39pts.

The Monday’s trade saw market breadth index being neutral with 23 gainers against 23 losers

Sunuassur (+10.00%) was the top gainer while Okumuoil, (-10.00%) led the losers table.

However, GTCO (-0.55%) was the most actively traded stock with about 45million units of shares worth about N1.23billion.

The Investment research analysts expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space, going forward.

According to the analysts, “We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.“

Expressing confidence in the sale of the two subsidiaries to the banking giant Nyamali expressed happiness over the completion of the seamless deal

“Dear Esteemed Client,

I am pleased to inform you that Investment One Financial Services Limited has completed the sale of two of its subsidiaries, Investment One Funds Management Limited (IOFM) and Investment One Pension Managers Limited (IOPM) to Guaranty Trust Holding Company Plc (GTCO Plc).

By this exit, IOFM and IOPM have become subsidiaries of GTCO Plc.

The process leading to the sale of the subsidiaries was a result of a review of our strategic goals and GTBank/GTCO’s restructuring into a holding company.

The sale will enable us focus on delivering more value to our wealth management and investment banking customers as well as focus on executing our international expansion plans.

Investment One Financial Services will continue to provide exceptional Wealth Management, Securities Brokerage, Investment Banking, Trust and Digital Banking services via robust digital platforms while pursuing the next phase of our strategy to expand our business operations internationally.“