Abiodun JIMOH
Guaranty Trust Holding Company Plc (GTCO Plc) has successfully completed the first phase of its equity capital raise programme, raising ₦209.41 billion through 130,617 valid applications for 4.7 billion Ordinary Shares. The completion follows capital verification by the Central Bank of Nigeria (CBN) and approval from the Securities and Exchange Commission (SEC).
This phase attracted significant interest from domestic retail investors and marks the first step in GTCO’s balanced approach to recapitalization, which divides allocations equally between institutional and retail investors. Group CEO Segun Agbaje expressed gratitude to shareholders and regulatory authorities for their support, noting that the success of this phase sets a strong foundation for the group’s growth and strategic goals.
GTCO plans to launch the second phase of its capital raise in 2025, focusing on attracting foreign institutional investments. The proceeds will support the recapitalization of GTBank Nigeria and fund growth initiatives across both banking and non-banking subsidiaries. This move is aimed at enhancing GTCO’s position as a leading financial institution in Africa and further solidifying its “Truly International” status.
