GTCo Raises N10bn Through Private Placement for Capital Requirements

Guaranty Trust Company (GTCo) raised N10 billion through a private placement of ordinary shares, not linked to its banking subsidiary's recapitalization. The move aligns with regulatory capital requirements set by the Central Bank of Nigeria.

The transaction involved the issuance of 125 million ordinary shares at N80 per share. The capital raise was approved during the company's annual general meeting in 2024.