Guaranty Trust Holding Company (GTCO) Plc has announced that it raised ₦209.41 billion through its recent public offer.
This marks the first phase of its equity capital raise program. The funds will be used to recapitalize GTCO’s flagship subsidiary, Guaranty Trust Bank (GTB) Limited, and support group-wide growth initiatives.
The public offer saw 130,617 valid applications for 4,705,800,290 ordinary shares, which were fully allotted. GTCO’s Group Chief Executive Officer, Segun Agbaje, expressed gratitude to shareholders for their support and highlighted that this milestone sets a solid foundation for the company’s strategic roadmap.
The second phase of the recapitalization program, targeting significant foreign institutional investments, is planned for 2025.
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