By Ayomide Otitoju
Guaranty Trust Holding Company Plc (GTCO) has unveiled plans to target foreign institutional investors in the second phase of its recapitalisation programme, set to launch in 2025.
This announcement follows the successful completion of the programme’s first phase, which raised ₦209.41 billion through 130,617 valid applications for 4,705,800,290 ordinary shares. The first tranche, executed with full allotment, adopted an equitable allocation strategy, dividing investments equally between institutional and retail investors—a move the Group described as pivotal to building a diversified investor base.
In a statement, the Group emphasized its ambition to solidify its standing as a “truly international” financial services brand. “The Group will commence the second phase of its recapitalisation plan in 2025, strategically positioned to attract significant foreign institutional investments,” the company said.
Segun Agbaje, Group Chief Executive Officer of GTCO Plc, expressed gratitude to shareholders and regulators for their unwavering support during the initial phase. “The strong participation in this initial phase and the successful capital verification and allotment reaffirm the confidence investors have in our fundamentals,” Agbaje said. “This milestone establishes a solid foundation to accelerate our strategic roadmap, driving transformational growth and unlocking greater value across the Group’s banking and non-banking businesses.”
Proceeds from the equity raise are earmarked for recapitalising the Group’s flagship subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria), to ensure regulatory compliance and bolster its competitive position in the financial sector.
Agbaje added that the funds would support group-wide initiatives, including expansion, product enhancement, and innovation across its banking and non-banking subsidiaries.
