Guaranty Trust Holding Company (GTCO), one of Nigeria’s leading financial conglomerates is set to storm the capital market with an offer in excess of N400 billion..
The Holdco is offering 9 billion ordinary shares in at a unit price of ₦44.50 per share.
Disclosing this on the Lagos floor of the Nigerian Exchange Group, NGX, Mr Segun Agbaje, Group GEO of GTCO said plans were on ground to invest the additional funds rated in profitable ventures in West Africa and East Africa, as well
as recapitalize GTBank Nigeria, expand its asset management and pension businesses as well as grow its loan portfolio.
He noted that the group has a track record of delivering strong returns, with a 29% average return on equity (RoE) over the past ten years and a 253% return on investment over the same period.
The company, he further explained has also made significant inroads into non-banking businesses, including fintech, asset management, and pension management, with plans to generate 5% of group profit from these businesses within three years.
With market capitalization of ₦1.39 trillion, Agbaje noted that GTCO is one of the largest and most profitable companies listed on the NGX, accounting for approximately 9% of stocks traded on the exchange.
to Agbaje, in a “fact behind the offer” presentation at the NGX on monday, gave
He enjoined stakeholder to embrace the offer with a promise to ensure that the company maintains it’s track record of consistent dividend payout to shareholders. He assured that very soon GTCO will stamp the record as the first Nigerian company to hit the one billion dollar profit mark.
Agbaje praised the CBN directive to banks in Nigeria to upscale their capital threshold, following adverse economic headwinds that have seen continuous erosion of the value of assets, adding that GTCO already had plans to raise fresh capital months before the directive.