By Ayomide Otitoju
Guaranty Trust Holding Company Plc (GTCO) has obtained approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to undertake a private placement of its ordinary shares, subject to the fulfilment of applicable conditions precedent and regulatory requirements.
The financial holding company had earlier announced on August 29, 2025, that its banking subsidiary, Guaranty Trust Bank Limited, had exceeded the new CBN minimum capital requirement for commercial banks with international authorisation, having increased its capital base to ₦504.04 billion.
According to the company, the ₦10 billion private placement is being raised in line with Section 7.1 of the Guidelines for the Licensing and Regulation of Financial Holding Companies in Nigeria, which governs the computation of capital for financial holding companies.
In a statement signed by the Group General Counsel and Company Secretary, Mr. Erhi Obebeduo, GTCO said the private placement is being undertaken pursuant to a shareholders’ resolution passed at its Annual General Meeting on May 9, 2024. The resolution authorised the Board to establish a capital-raising programme of up to $750 million, or its equivalent, through the issuance of various financial instruments, including ordinary and preference shares, bonds and other securities, via public offerings, private placements, rights issues or other approved methods.
The statement added that the Board has approved the private placement to raise ₦10 billion through the allotment of 125 million ordinary shares of 50 kobo each. The shares are to be offered at ₦80 per share under a best-efforts arrangement, with gross proceeds of up to ₦10 billion.
The offering is scheduled to close on December 31, 2025, and remains subject to the receipt of all required regulatory approvals and the fulfilment of other customary conditions.
