Guaranty Trust Holding Company Plc (“GTCO) has obtained the approval of both the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to undertake a private placement of its ordinary shares, subject to the fulfillment of applicable conditions and regulatory requirements.
The financial holding company had earlier announced on August 29, 2025, that its banking subsidiary (Guaranty Trust Bank Limited) has met and exceeded the new CBN minimum capital requirement for commercial banks with international authority, thereby increasing its capital already to N504.037 billion.
The Company has entered into an arrangement in connection with a best efforts private placement for gross proceeds of up to N10 billion from the sale of 125,000,000 ordinary shares of the Company at N80 per share.
This private placement in the sum of N10 billion is being raised in accordance with Section 7.1 of the Guidelines for Licensing and Regulation of Financial Holding Companies (FHCs) in Nigeria regarding the calculation of the capital of FHCs.
According to a statement signed by the company's Group General Counsel/Company Secretary, Erhi Ogbeduo, the proposed private placement is being made in accordance with the resolution passed by the company's shareholders at the Annual General Meeting held on May 9, 2024, which authorized the Board to establish a capital raising program of $750,000,000 or its equivalent through the issuance of ordinary shares, preference shares, convertible and/or non-convertible bonds or any other Has been authorized for. instruments, whether through public offer, private placement, rights issue, book building process or any other method or combination of methods, in such tranches, and on such dates and on such terms and conditions as may be determined by the Board.
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The statement further read that, “Consequently, the Board has authorized the Company to commence a Private Placement to raise N10,000,000,000.00 (Ten Billion Naira Only) by the allotment of 125,000,000 (One Hundred Twenty Five Million) Ordinary Shares of 50 Kobo each (“Private Placement”).
The Offering is scheduled to close on December 31, 2025 (Closing Date) and is subject to certain conditions, including, but not limited to, receipt of all necessary approvals.
