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Guaranty Trust Holding Company (GTCO) Plc said it had secured approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to undertake a private placement of its ordinary shares worth N10 billion.

The private placement, detailed in a notice filed with the Nigerian Exchange Limited, will involve the allotment of 125 million ordinary shares at N80 per share, with each share having a nominal value of 50 kobo. It is scheduled to close on December 31, 2025, subject to the fulfilment of all regulatory conditions.

GTCO’s banking subsidiary, Guaranty Trust Bank Limited, already surpassed the CBN’s minimum capital requirement for international authorisation banks by raising its capital to N504.04 billion, as announced on August 29, 2025.

The private placement at the holding company level complies with Section 7.1 of the Guidelines for Licensing and Regulation of Financial Holding Companies in Nigeria, focusing on strengthening GTCO’s overall capital computation. It follows a 2024 AGM shareholders’ resolution authorising up to $750 million in capital raising through various methods.

The Company in a statement signed by its Group general counsel, Erhi Obebeduo said, “the board has authorised the company to embark on a private placement to raise N10 billion by the allotment of 125 million ordinary shares of 50 kobo each.

GTCO explained that the private placement is being undertaken pursuant to Section 7.1 of the Guidelines for Licensing and Regulation of Financial Holding Companies in Nigeria, saying that it follows a shareholders’ resolution passed at the 2024 Annual General Meeting, which authorised the Board to establish a capital raising programme of up to $750 million or its equivalent through various instruments and methods, including private placements.

“The move comes after GTCO’s banking subsidiary, Guaranty Trust Bank Limited, surpassed the CBN’s new minimum capital requirement for commercial banks with international authorisation, increasing its capital to N504.04 billion.

“The professional parties involved will use their respective reasonable endeavours to procure a place for the private placement shares. The Private Placement is not being underwritten,” the statement added.

GTCO added that the exercise is aimed at strengthening the holding company’s capital base and supporting its ongoing strategic objectives.