Guaranty Trust Holding Company Plc (GTCO) has gained clearance from the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) to move ahead with a N10 billion private share sale.
The announcement came Tuesday via a filing on the Nigerian Exchange Limited (NGX).
Offer Details
- Amount: N10 billion
- Shares: 125 million ordinary shares
- Price: N80 per share (50 kobo par value)
- Target Close: 31 December 2025, subject to final conditions
Group General Counsel Erhi Obebeduo signed the notice, confirming board approval under the Guidelines for Licensing and Regulation of Financial Holding Companies.
Why the Raise?
The placement fits a larger capital plan approved at the 2024 Annual General Meeting, allowing up to $750 million through various methods.
GTCO’s main banking subsidiary, Guaranty Trust Bank, already exceeds the CBN’s new minimum capital threshold for international licence holders with N504.04 billion.
The fresh funds will strengthen the holding company’s balance sheet and support future growth initiatives.
Execution
- The offer targets qualified investors
- No underwriter involved
- Teams are identifying suitable buyers
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