Leading financial institution, Guaranty Trust Holding Company plc (“GTCO PLC” or the “Issuer”) (NGX: GTCO) has announced the opening of its Offer for Subscription of 9,000,000,000 Ordinary Shares of 50 kobo each at N44.50 per Ordinary Share (the “Offer”).
This follows the clearance of the Offer Prospectus and registration of the Offer Shares by the Securities and Exchange Commission, Nigeria (SEC Nigeria). The net proceeds from the Offer will be used for the recapitalisation of GTCO PLC’s principal banking subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria), and to support Group-wide growth and expansion initiatives.
The Application List for the Offer opens on Monday, July 15, 2024, and closes on Monday, August 12, 2024.
The Prospectus, including the Application Form, is available in physical format at all GTBank Nigeria branches nationwide and in electronic format at www.gtcoplc.com. Additionally, the Prospectus and Application Forms can be obtained from the offices and websites of the Issuing Houses, as well as from Stockbrokers to the Offer and other Receiving Agents nationwide.
Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company plc, commented: “This equity capital raise is timely and marks a significant milestone in our strategic plan to pivot the organisation for transformational growth across the Banking businesses in and outside Nigeria, and the non-banking businesses; differentiating it as a leading Financial Services Group in Africa. Over the last three years, we have diversified the earnings of the Group beyond pure banking play, through the creation of a Payments subsidiary and selective acquisitions in the Funds Management and Pension Fund Administration sectors; delivering exceptional value to our stakeholders whilst also enriching the lives of people in every community where we operate.”
GTCO is the most capitalised Banking stock on the Nigerian Stock Exchange and has consistently outperformed its peers in terms of key profitability indicators and other financial metrics. Recognised as a premier financial institution, GTCO’s leadership in the Nigerian financial services industry and ongoing efforts to empower people and communities across Africa have earned it numerous prestigious awards.
Before subscribing, please read the Offer Prospectus. In case of doubt, consult your stockbroker, fund/portfolio managers, accountant, banker, solicitor, tax consultant, or an independent adviser registered by the SEC for guidance. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
