GTCO raises N10 billion through private placement

Guaranty Trust Holding Company (GTCO) said it has allotted 125 million ordinary shares worth N10 billion in respect of the private placement held by the financial services group in December 2025.

The banking group received a single application for the said number of shares, which was considered valid under the terms of the capital raise programme and processed accordingly, recording a 100 per cent subscription, according to a regulatory filing on Thursday.

The shares were issued at N80 per unit. No mention was made of the name of the allottee.

“The allotted shares will be credited immediately to the CSCS Account of the allottee by the registrar to the placing, DataMax Registrars Limited, 2C Gbagada Expressway, off Beko Ransome-Kuti Park, Lagos,” GTCO said in the statement.

Quest Advisory Services Limited acted as the issuing house to the transaction. GTCO stated that the allotment has been cleared by the Securities and Exchange Commission.

Last December, GTCO, which is listed in Lagos and London, announced the launch of the private placement pursuant to a shareholders’ resolution passed at its annual general meeting held on 9 May 2024, authorising the board to conduct a capital raising programme of up to $750 million.

It had earlier announced in August the raising of N365.9 billion by way of a rights issue, through which it sold 7 billion ordinary shares to existing shareholders. That enabled its commercial banking subsidiary, Guaranty Trust Bank, to meet the new N500 billion regulatory capital for Nigerian lenders with international banking authorisation.

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“Through this capital injection, the share capital of GTBank has been increased from N138,186,703,485.78 to N504,037,107,058.45 and ensures the bank’s compliance with the new minimum capital requirement for commercial banks with international authorisation stipulated by the Central Bank of Nigeria,” GTCO said at the time.

According to Nigeria’s new capital rules, banks with national and regional authorisations have until March 2026 to increase their core capital to N200 billion from N25 billion and to N50 billion from N10 billion respectively, just like their peers that operate foreign subsidiaries.