GTCO Lists 2.288bn Public Offer Shares On NGX

Guaranty Trust Holding Company (GTCO) Plc has listed 2.288 billion shares from its public offer on the Nigerian Exchange Limited (NGX).

This listing follows the successful completion of the company’s capital-raising exercise through a public offer, which aimed to strengthen its capital base and drive growth initiatives.

The NGX stated that, “trading licence holders are notified that additional 2.288 billion ordinary shares of 50 kobo each of Guaranty Trust Holding Company Plc on July 10, 2025 were listed on the daily official list of Exchange.”

It added that, “the additional shares listed on NGX arose from the Company’s public offer of 2.288 billion ordinary shares at N70.00 per share. With the listing of the additional shares, the total issued, and fully paid-up shares of Guaranty Trust Holding Company has now increased from 34.137 billion to 36.425 billion shares of 50 kobo each.”

The company, on July 3, 2025, announced plans to list its ordinary shares on the London Stock Exchange (LSE), marking a significant step in its drive to access global capital markets.

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GTCO stated that these moves will enhance investor access and flexibility while strengthening its ability to raise capital globally.

Speaking on the dual listing, Group CEO of GTCO, Segun Agbaje said, the company is targeting a minimum dividend yield of 15 per cent and a return on equity (ROE) of at least 25 per cent, reflecting the company’s confidence in its growth outlook.

On expansion plans beyond Nigeria, Agbaje noted that growth is progressing gradually, supported by the new capital structure.

“We are generally conservative. But diversification is already happening, just without much attention. Nigeria accounts for 67 per cent of our profit, West Africa 27 per cent. We are now looking to grow our East African operations, which currently stand at 1.5 per cent, and the UK business, which contributes 1.8 per cent,” he stressed.

He added that Senegal is expected to be the next country the group enters, with plans to strengthen its branch networks in existing markets to improve competitiveness, rather than simply expanding its geographic footprint.