By GTCO Plc Raises ₦209 Billion in First Phase of Equity Capital Programme
Guaranty Trust Holding Company Plc (GTCO Plc) has successfully concluded the first phase of its equity capital raise programme, securing ₦209.41 billion from 130,617 valid applications for over 4.7 billion Ordinary Shares.
The offer, which saw strong participation from domestic retail investors, marks a major step in GTCO’s strategic recapitalization efforts, aimed at strengthening its flagship subsidiary, Guaranty Trust Bank Limited, and supporting Group-wide growth initiatives.
Group CEO Segun Agbaje expressed gratitude to investors and regulators, highlighting the milestone as a foundation for transformational growth.
In his words, “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. 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.”
The Group plans to launch the second phase of its recapitalization in 2025, aiming to attract significant foreign institutional investment and reinforce its international standing.
Proceeds from the equity raise will be allocated to recapitalize Guaranty Trust Bank Limited (GTBank Nigeria), ensuring regulatory compliance and fortifying its leadership in the financial sector. Additionally, funds will support strategic initiatives such as regional expansion, product innovation, and enhancements across its subsidiaries.
