Guaranty Trust Holding Company Plc Seeks SEC Approval to Raise N400 Billion Capital 

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L – R shows Chief Executive Officer, NGX Regulation Limited (NGX RegCo), Mr. Femi Shobanjo; Head, Primary Market, Nigerian Exchange Limited (NGX), Mr Tony Ibeziako; Group Managing Director/CEO, Nigerian Exchange Group (NGX Group), Mr. Temi Popoola; Group Chairman, NGX Group, Alhaji (Dr.) Umaru Kwairanga; Group Chief Executive Office, Guaranty Trust Holding Company Plc (GTCO), Mr. Olusegun Agbaje; Chairman, NGX, Mr. Ahonsi Unuigbe; Deputy Managing Director, GTBank, Mr. Jide Okuntola and Doyen of the Market, Alhaji Rasheed Yussuff during the Facts Behind the Offer Presentation by Guaranty Trust Holding Company Plc today in Lagos.
Guaranty Trust Holding Company Plc (GTCO) has announced plans to raise up to ₦400 billion ($750 million) to bolster its capital reserves. According to the CEO of the GTCO, Segun Agbaje saying plans to raise approximately N400 billion in capital starting in July 2024 with detailed in a preliminary prospectus filed with the Securities and Exchange Commission (SEC), is part of GTCO’s broader strategy to support the expansion and recapitalization of its subsidiary, Guaranty Trust Bank Limited (GTBank).
GTCO plans to raise the funds through the issuance of ordinary shares, although the exact number of shares and the price range for the offering have not yet been disclosed. Agbaje further disclosed that The proceeds from this capital raise will be utilized to enhance the GTCO Group’s business operations, including investing in technology infrastructure, establishing new subsidiaries, and selectively acquiring non-banking businesses.
“The proposed offering is structured to target both institutional and retail investors within Nigeria, with private placements aimed at international institutional investors. This initiative follows the Central Bank of Nigeria’s recent directive for banks to bolster their capital bases to meet new regulatory requirements.
Additionally, GTCO has plans to establish a multi-currency securities issuance program, potentially raising up to $750 million in the Nigerian and international capital markets .
This capital raise is seen as a critical step in enabling GTBank and its parent company to participate in larger financial transactions and strengthen their overall financial stability amidst the evolving economic landscape in Nigeria.

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