Zenith Bank Plc listed $850 million worth of its ordinary shares on the floor of the London Stock Exchange as global depository receipts GDRs at $6.80 apiece, the bank said on Thursday.

One GDR represents 50 ordinary shares, the bank said, adding that JP Morgan is the depository bank, while Citi is the custodian.

It listed 125,000,000 units of the receipts.

Zenith Bank Chief Executive, Godwin Emefiele, said the listing will allow foreign investors to buy their shares on the LSE and improve liquidity rather than to raise capital immediately.

E-BIZ 24/7 reports that the lender has a primary listing in Nigeria with a market capitalisation of more than $4 billion.