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GTCO set to float N400bn public offer, targets acquisition

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Guaranty Trust Holding Company, GTCO Plc, has concluded arrangement to raise N400 billion fresh capital in pursuit of the Central Bank of Nigeria, CBN, recapitalization policy.

The Group Chief Executive Officer , GTCO, Segun Agbaje, disclosed this at the fact behind its public offer presentation at the Nigerian Exchange Limited, NGX, yesterday.

“We are targeting acquisition from the recapitalisation exercise. Whatever money raised part of it could be used for acquisition. Regarding its target investors, Agbaje said, “The proposed offering was structured as an institution offering targeted at eligible investors and for retail offerings within Nigeria. For the international market, institutional investors would be targeted via private placements.”

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