Guaranty Trust Holding Company Plc has raised N209.41 billion after securing approvals from the Central Bank of Nigeria and the Securities and Exchange Commission for the first tranche of its equity capital raise programme.
In a statement released on Monday, GTCO announced that its equity capital raise attracted strong interest from domestic retail investors.
This resulted in 130,617 valid applications for 4,705,800,290 ordinary shares. The shares were fully allotted, marking the successful completion of the first phase of the programme.
Commenting, the Group Chief Executive Officer of GTCO Plc, Segun Agbaje, expressed his gratitude.
He thanked the investors for their strong support and trust in the company, highlighting the successful completion of the first phase of the capital raise.
“We extend our sincere appreciation to 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 successful capital verification exercise and allotment process reaffirm the confidence investors have in our fundamentals and execution capabilities.
“This sets a solid foundation for accelerating our strategic roadmap, which aims to pivot the Group for transformational growth and unlock greater value across the Group’s Banking and Non-Banking businesses.”
GTCO Plc emphasized that it continues to lead its peers in key profitability metrics and financial performance.
“Building on this successful first phase, the Group will commence the second phase of its recapitalisation plan in 2025, which is strategically positioned to attract significant foreign institutional investments, reinforcing its reputation as a ‘Truly International’ financial services brand,” the company added.
The proceeds from the equity raise will be used to recapitalize Guaranty Trust Bank Limited, strengthening its ability to meet regulatory requirements and reinforcing its position as a leading financial institution.
Additionally, GTCO said the funds will support group-wide growth initiatives, including expanding its footprint, enhancing products, and fostering innovation across both banking and non-banking subsidiaries.
