Recapitalisation: GTCO Eyes Foreign Investors In Second Phase

Recapitalisation: GTCO Eyes Foreign Investors In Second Phase

Guaranty Trust Holding Company Plc has announced plans to attract foreign institutional investments in the second phase of its recapitalisation programme in 2025

This follows the successful completion of the first tranche of the equity capital raise programme, which garnered N209.41bn from 130,617 valid applications for 4,705,800,290 ordinary shares.

The first phase, which concluded with full allotment, focused on an allocation strategy, splitting investments equally between institutional and retail investors. This approach, according to the Group, aligns with its commitment to fostering a diversified investor base.

“The Group will commence the second phase of its recapitalisation plan in 2025, which is strategically positioned to attract significant foreign institutional investments, reinforcing its reputation as a “truly international” financial services brand.”

The Group Chief Executive Officer of GTCO Plc, Segun Agbaje, expressed gratitude to shareholders and regulators for their support.

He stated, “The strong participation in this initial phase and the successful capital verification and allotment reaffirm the confidence investors have in our fundamentals. This milestone sets a solid foundation for accelerating our strategic roadmap aimed at transformational growth and unlocking greater value across the Group’s banking and non-banking businesses.”

Proceeds from the equity raise will be used to recapitalise the Group’s flagship subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria), ensuring compliance with regulatory requirements and strengthening its position in the financial sector.

He added that the funds will support group-wide growth initiatives, including expansion, product enhancement, and innovation across banking and non-banking subsidiaries.

In July, THECONSCIENCE NG reported that Guaranty Trust Bank Plc had announced a plan to raise N400.5bn by issuing nine billion shares at N44.5 per share as part of its strategy to fuel expansion and innovation.