Guaranty Trust Holding Company Plc (GTCO) has obtained approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to raise N209.41 billion in the first tranche of its equity capital programme.
In a statement on Monday, GTCO announced that the offer attracted significant interest from domestic retail investors, culminating in 130,617 valid applications for 4,705,800,290 ordinary shares. The shares were fully allotted, marking the successful completion of this initial phase.
GTCO’s Group Chief Executive Officer, Segun Agbaje, expressed gratitude for the support received.
“We sincerely thank our new and existing shareholders, as well as the regulatory authorities, for their unwavering support during this initial phase of our equity capital raise,” Agbaje said.
“The strong participation and seamless allotment process reaffirm the confidence investors have in our fundamentals and execution capabilities. This milestone sets a strong foundation for our strategic roadmap, aimed at driving transformational growth and unlocking greater value across our Banking and Non-Banking businesses.”
GTCO highlighted its leadership in profitability and financial performance metrics among peers. Building on this achievement, the Group plans to launch the second phase of its recapitalisation in 2025, focusing on attracting substantial foreign institutional investments to bolster its position as a global financial services brand.
The funds raised will be used to recapitalise Guaranty Trust Bank Limited (GTBank Nigeria) to meet regulatory requirements and strengthen its position as a leading financial institution. Additionally, the proceeds will support group-wide initiatives, including geographic expansion, product enhancement, and innovation across its Banking and Non-Banking subsidiaries.
GTCO reaffirmed its commitment to delivering sustainable value to stakeholders and driving financial innovation across Africa’s financial services landscape.
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