Guaranty Trust Holding Company Plc, GTCO, has secured the approvals of the Central Bank of Nigeria, CBN, and the Securities and Exchange Commission, SEC, to raise ₦10 billion through a private placement of its ordinary shares.
The approval, according to the Company, is subject to the fulfilment of applicable conditions precedent and regulatory requirements.
The private placement is being undertaken in line with Section 7.1 of the Guidelines for Licensing and Regulation of Financial Holding Companies (FHCs) in Nigeria, which governs the computation of capital for holding companies.
GTCO had earlier announced, on August 29, 2025, that its banking subsidiary, Guaranty Trust Bank Limited, had already met and exceeded the new CBN minimum capital requirement for commercial banks with international authorisation. The bank’s capital was increased to ₦504.04 billion, surpassing the regulatory threshold.
In a statement signed by the Group General Counsel and Company Secretary, Mr. Erhi Obebeduo, the company explained that the private placement is part of a broader capital-raising programme approved by shareholders at its Annual General Meeting held on May 9, 2024.
At the meeting, shareholders authorised the Board to raise up to US$750 million or its equivalent through various instruments, including ordinary shares, preference shares, bonds, or a combination of capital market options.
Following this mandate, the Board approved the private placement to raise ₦10 billion through the allotment of 125 million ordinary shares of 50 kobo each. The shares are being offered at ₦80 per share under a best-efforts arrangement.
According to the statement, the offering is expected to close on December 31, 2025, subject to the receipt of all necessary regulatory approvals and the satisfaction of other closing conditions.
The capital raise is intended to strengthen GTCO’s holding company structure and align with regulatory requirements, while reinforcing its long-term growth and stability strategy.