The Offer attracted significant interest from domestic retail investors, resulting in a total capital raise of ₦209.41 billion from 130,617 valid applications for 4,705,800,290 Ordinary Shares, all of which have been fully allotted.
This achievement marks the end of the first phase of GTCO’s structured equity capital raise programme, which employs a balanced allocation strategy that equally divides shares between institutional and retail investors. This approach reflects GTCO Plc’s dedication to cultivating a diverse and resilient investor base.
Commenting on this phase of the recapitalization exercise, Segun Agbaje, Group Chief Executive Officer of GTCO Plc, expressed his gratitude: “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.”
GTCO Plc continues to excel compared to its competitors in essential profitability indicators and overall financial performance. Following the success of the initial phase, the Group is set to initiate the second phase of its recapitalization strategy in 2025, which is designed to attract substantial foreign institutional investments, further establishing its identity as a “Truly International” financial services brand.
The funds raised from this equity initiative will be strategically allocated to strengthen the Group’s primary subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria), improving its capacity to comply with regulatory standards and reinforcing its status as a premier financial institution. Furthermore, these resources will facilitate growth initiatives across the Group, including expansion of operations, enhancement of product offerings, and innovation within both Banking and Non-Banking subsidiaries. GTCO is dedicated to providing sustainable value to its stakeholders while fostering innovation in the African financial services sector.
As one of the largest financial services entities in Africa, GTCO Plc is headquartered in Lagos, Nigeria. Guaranty Trust Holding Company Plc holds both direct and indirect investments in a network of operational entities across 10 countries in Africa and the United Kingdom.
These entities deliver a wide array of commercial banking and related financial services to millions of customers, including retail, institutional, private banking, and wealth management clients, as well as offering asset management, pension fund administration, and payment technology services.