GTCO sets sights on global investors for 2025 recapitalisation drive

Guaranty Trust Holding Company Plc (GTCO) is positioning itself for global prominence as it announces the second phase of its recapitalisation programme, set for 2025. This stage aims to attract foreign institutional investors, reinforcing the financial giant’s ambitions as a globally competitive brand.

The announcement comes on the heels of a successful first phase, which raised N209.41 billion through a robust equity capital raise programme. The initial tranche garnered strong participation, receiving 130,617 valid applications for 4.7 billion ordinary shares.

The first phase featured a balanced investment strategy, with allocations equally distributed between institutional and retail investors. GTCO emphasized that this approach was aligned with its vision of fostering a diversified investor base.

Group Chief Executive Officer Segun Agbaje attributed the success to shareholders and regulators, expressing optimism about the Group’s trajectory. “The strong participation in this initial phase and the successful capital verification and allotment reaffirm the confidence investors have in our fundamentals. This milestone sets a solid foundation for accelerating our strategic roadmap aimed at transformational growth and unlocking greater value across the Group’s banking and non-banking businesses,” he said.

The capital raised will primarily be used to recapitalise Guaranty Trust Bank Limited (GTBank Nigeria), ensuring regulatory compliance and bolstering the Group’s financial resilience. It will also fund growth initiatives, including innovation, product expansion, and regional diversification across subsidiaries.

GTCO’s second phase recapitalisation drive will target significant foreign investments, a move seen as crucial to cementing its status as a leading international financial services provider.

This initiative is part of GTCO’s broader strategy, which includes a N400.5 billion capital raise plan announced in July.

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