Guaranty Trust Holding Company Plc (GTCO Plc) has successfully concluded the first tranche of its equity capital raise programme, raising a total of N209.41 billion.
This achievement marks a significant milestone in the Group’s phased recapitalization plan, as it prepares to strengthen its market leadership and accelerate growth across its banking and non-banking businesses.
The completion of this phase followed a rigorous capital verification process conducted by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission’s (SEC) approval of the Basis of Allotment for the Offer.
According to GTCO Plc, the Offer generated considerable interest, attracting 130,617 valid applications for 4,705,800,290 Ordinary Shares, which were fully allotted.
The equity raise was structured on a balanced allocation strategy, dividing participation equally between institutional and retail investors. This approach aligns with GTCO’s vision of fostering a diversified and robust investor base while ensuring inclusive participation.
Speaking on the development, Segun Agbaje, Group Chief Executive Officer of GTCO Plc, expressed gratitude to stakeholders, saying: “We extend our sincere appreciation to our new and existing shareholders, as well as regulatory authorities, for their unwavering support during this initial phase of our equity capital raise. The strong participation underscores the confidence investors have in our fundamentals and execution capabilities.”
Agbaje further emphasized that the success of the first tranche provides a solid foundation for the Group’s strategic roadmap aimed at transformational growth.
Financial analysts have praised GTCO’s strategy, noting its focus on creating long-term value for stakeholders.
Olusegun Idowu, a Lagos-based investment analyst, remarked: “GTCO’s ability to attract such significant interest in a challenging economic climate highlights the strength of its brand and management. This recapitalization will not only bolster the Group’s compliance with regulatory requirements but also position it for competitive expansion.”
Another analyst, Nana Mensah, a financial strategist in Ghana, pointed out that the balanced investor allocation reflects a modern approach to equity raising, ensuring both institutional stability and retail inclusiveness.
“By balancing institutional and retail participation, GTCO is signaling its commitment to democratizing investment opportunities and maintaining a diversified investor base,” Mensah said.