Guaranty Trust Holding Company Plc has obtained the approvals of both the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to undertake a private placement of its ordinary shares, upon fulfilment of the applicable conditions and regulatory requirements.

The group had announced in August that its banking subsidiary (Guaranty Trust Bank Limited) had satisfied and surpassed the new CBN minimum capital requirement for commercial banks with international authorisation, having increased its capital to N504.037 billion.

This private placement in the sum of N10 billion is therefore only being raised pursuant to Section 7.1 of the Guidelines for Licensing and Regulation of Financial Holding Companies (FHCs) regarding the computation of the capital of FHCs.

According to a statement signed by the company’s Group General Counsel/Company Secretary, Erhi Obebeduo, the proposed private placement is being undertaken pursuant to the company’s shareholders’ resolution passed at its yearly general meeting held on 9 May, 2024, which authorised the board to establish a capital raising programme of up to $750 million or its equivalent through the issuance of ordinary shares, preference shares, convertible and/or non-convertible bonds or any other instruments.

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“As a result of this, the Board has authorised the Company to embark on a private placement to raise N10,000,000,000 by the allotment of 125,000,000 ordinary shares of N0.50 each.

“The Company has entered into an arrangement, in connection with a best-efforts private placement for gross proceeds of up to N10 Billion from the sale of up to 125,000,000 of the ordinary shares of the Company at N80 per share,” the statement said.

The offering closed on December 31, 2025, and is subject to certain conditions, including receipt of all necessary approvals.