Guaranty Trust Holdings Company (GTCO) Plc has offered 9 billion new ordinary shares for subscription at ₦44.50.
The offer is to raise ₦400.5 billion from Nigeria Equities market in an effort to meet banking sector recapitalization deadline.
The company has estimated to get ₦8,010,000,000 after deducting all cost of offering and 94.3% of net proceeds is to be use for recapitalisation.
According to data from the Nigerian Exchange (NGX), the financial services company shares ended at ₦44.50 per share in the market on Friday.
“The remaining balance will be used to finance growth and expansion of the Group’s Acquisitions in Pension Fund Administration and Asset Management Businesses. The group said in a regulatory filing that the offer is open from July 15 to August 12, 2024.”
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