Guaranty Trust Holding Company plc ("GTCO PLC" or the "Issuer") has announced the opening of its subscription offer for 9,000,000,000 ordinary shares at 50 kobo each, priced at N44.50 per share. This follows the clearance of the offer prospectus and registration by the Securities and Exchange Commission, Nigeria (SEC Nigeria). The net proceeds from the offer will be used to recapitalise GTCO PLC’s principal banking subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria), and to support group-wide growth and expansion initiatives.
The application period for the offer begins on Monday, July 15, 2024, and ends on Monday, August 12, 2024.
The prospectus, which includes the application form, is available at all GTBank Nigeria branches nationwide and online at www.gtcoplc.com. Additionally, the prospectus and application forms can be obtained in physical and electronic formats at the offices and websites of the issuing houses to the offer are:
Issuing Houses Websites
Stanbic IBTC Capital Limited (Lead Issuing House) stanbicibtccapital.com
ABSA Capital Markets Nigeria Limited cib.absa.africa
FCMB Capital Markets Limited fcmbcapitalmarketsng.com
Vetiva Advisory Services Limited Vetiva.com
The Prospectus and Application Forms are also available from the Stockbrokers to the Offer and other Receiving Agents nationwide.
Commenting on the launch of the Public Offer, the Group Chief Executive Officer of Guaranty Trust Holding Company plc, Segun Agbaje, said: “This equity capital raise is timely and marks a significant milestone in our strategic plan to pivot the organisation for transformational growth across the Banking businesses in and outside Nigeria, and the non-banking businesses; differentiating it as a leading Financial Services Group in Africa. Over the last three years, we have diversified the earnings of the Group beyond pure banking play, through the creation of a Payments subsidiary and selective acquisitions in the Funds Management and Pension Fund Administration sectors; delivering exceptional value to our stakeholders whilst also enriching the lives of people in every community where we operate”.
GTCO is the most capitalised Banking stock on the Nigerian Stock Exchange and has consistently outperformed its peers in terms of key profitability indicators and other financial metrics. Widely regarded as a first-rate financial institution, GTCO’s leadership in the Nigerian financial services industry and continuing efforts at empowering people and communities across Africa have earned it many prestigious awards over the years.
Before subscribing, please read the Offer Prospectus and where in doubt, consult your stockbroker, fund/portfolio managers, accountant, banker, solicitor, tax consultant or an independent adviser registered by the SEC for guidance. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful before registration or qualification under the securities laws of any such state or jurisdiction.
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