Guaranty Trust Holding Company Plc has secured approvals from the Central Bank of Nigeria and the Securities and Exchange Commission to undertake a private placement of its ordinary shares worth N10bn, the company announced on Tuesday.
The private placement, detailed in a notice filed with the Nigerian Exchange Limited, will involve the allotment of 125 million ordinary shares at N80 per share, with each share having a nominal value of 50 kobo. It is scheduled to close on December 31, 2025, subject to the fulfilment of all regulatory conditions, GTCO said.
“The board has authorised the company to embark on a private placement to raise N10bn by the allotment of 125 million ordinary shares of 50 kobo each,” the company said in a statement signed by Erhi Obebeduo, Group General Counsel.
GTCO explained that the private placement is being undertaken pursuant to Section 7.1 of the Guidelines for Licensing and Regulation of Financial Holding Companies in Nigeria.
It follows a shareholders’ resolution passed at the 2024 Annual General Meeting, which authorised the Board to establish a capital raising programme of up to $750m or its equivalent through various instruments and methods, including private placements.
The move comes after GTCO’s banking subsidiary, Guaranty Trust Bank Limited, surpassed the CBN’s new minimum capital requirement for commercial banks with international authorisation, increasing its capital to N504.04bn.
“The professional parties involved will use their respective reasonable endeavours to procure a placee for the private placement shares. The Private Placement is not being underwritten,” the statement added.
GTCO’s Board said the exercise is aimed at strengthening the holding company’s capital base and supporting its ongoing strategic objectives.
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