Guaranty Trust Holding Company Plc (GTCO Plc), a leading financial services institution in Africa, has successfully completed the first tranche of its ambitious equity capital raise programme, securing a substantial N209.41 billion. This achievement marks a significant milestone in the company’s strategic roadmap for transformational growth and value creation across its diverse portfolio of banking and non-banking businesses. The successful capital raise underscores the strong investor confidence in GTCO Plc’s robust fundamentals and proven execution capabilities.
The first phase of the capital raise, which focused on domestic retail investors, witnessed overwhelming participation, with over 130,000 valid applications received for a total of 4.7 billion ordinary shares. The impressive response from the domestic market highlights the strong brand recognition and trust that GTCO Plc enjoys among Nigerian investors. The full allotment of the offered shares signifies the successful conclusion of this initial phase, setting the stage for the second tranche, which is slated for 2025 and aimed at attracting foreign institutional investments.
Segun Agbaje, the Group Chief Executive Officer of GTCO Plc, expressed his gratitude to both existing and new shareholders, as well as the regulatory authorities, for their invaluable support throughout the process. He emphasized that the successful completion of the first phase reinforces the company’s commitment to its strategic objectives and its ability to deliver sustainable value to all stakeholders. The raised capital will be strategically deployed to bolster GTCO Plc’s subsidiaries, drive innovation, and expand its footprint across the African continent.
The primary allocation of the raised capital will be directed towards recapitalizing Guaranty Trust Bank Limited (GTBankNigeria), the flagship subsidiary of GTCO Plc. This injection of capital will enable GTBankNigeria to meet evolving regulatory requirements, strengthen its balance sheet, and further solidify its leadership position within the Nigerian banking sector. The recapitalization will also provide GTBankNigeria with the financial flexibility to pursue growth opportunities and enhance its product offerings, ensuring it remains at the forefront of innovation in the financial services industry.
Beyond strengthening its core banking operations, the capital raised will also fuel GTCO Plc’s broader growth initiatives across its diverse portfolio of businesses. This includes expanding its footprint across Africa, both organically and through strategic acquisitions, to capitalize on the vast growth potential of the continent’s burgeoning markets. The funds will also be invested in enhancing existing products and services, developing innovative financial solutions, and leveraging cutting-edge technology to deliver superior customer experiences. These investments are designed to position GTCO Plc as a leading provider of comprehensive financial services across the African continent.
The second phase of the capital raise, planned for 2025, will focus on attracting significant foreign institutional investments. This strategic move is aimed at further diversifying the company’s investor base, enhancing its global profile, and solidifying its position as a truly international financial services brand. The successful execution of both phases of the capital raise will provide GTCO Plc with the necessary resources to execute its ambitious growth strategy, deliver long-term value to its shareholders, and contribute to the development of the African financial landscape. GTCO Plc remains committed to its vision of building a world-class financial institution that empowers individuals, businesses, and communities across Africa.
