Guaranty Trust Holding Company Plc (GTCO) has said that its proposed N400.5 billion capital raise via public offer is intended to enhance its capital base and expand its international footprint. Speaking at the “Facts Behind the Offer Presentation,” GTCO Group Managing Director Mr.
Segun Agbaje disclosed that the group plans to issue nine billion ordinary shares of 50 kobo each at an offer price of N44.50 per share on the Nigerian Exchange Limited (NGX). This initiative aims to raise N400.
5 billion from the investing public through the public offer. Related Stories Market Moves: NGX’s New CEO, Oando’s Rollercoaster, and Top Performing Stocks in H1 2024 Early filers: NGX applauds Geregu Power, Airtel Africa, others for corporate governance practices “ On growth strategy going forward, GTCO plans to deepen the business, exposure to critical sectors would be bigger and stronger. “Outside Nigeria, we are planning to invest in Senegal, because we think business is good there.
We are going to grow in Cote d’Ivoire, Ghana, and Kenya,” he said He vowed that the Group would become the first financial institution to reach $1 billion in profit. “We want a market capitalization that Nigeria will be proud of. There is no Nigerian company that has ever made $1 billion in profit, and we are going to be the first to achieve it,” he said.
Speaking to the capital market community on the rationale behind the offer, he noted that banks need equity. He said the country has jus.
