Guaranty Trust Holding Company Plc (GTCO) has successfully concluded the first phase of its equity capital raise program, securing N209.41 billion from domestic retail investors.
The offer attracted significant interest, with 130,617 valid applications received for 4,705,800,290 ordinary shares, all of which were fully allotted.
“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,” said Segun Agbaje, Group Chief Executive Officer of GTCO Plc. “The strong participation and successful capital verification exercise and allotment process reaffirm the confidence investors have in our fundamentals and execution capabilities.”
This successful first phase sets the stage for the second phase of the recapitalization plan, which will focus on attracting significant foreign institutional investments.
The proceeds from the equity raise will be strategically deployed to recapitalize Guaranty Trust Bank Limited (GTBankNigeria), enhance its ability to meet regulatory requirements, and support group-wide growth initiatives, including footprint expansion, product enhancement, and innovation across both Banking and Non-Banking subsidiaries.
GTCO remains committed to delivering sustainable value to its stakeholders and driving innovation across the financial services landscape in Africa.
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