GTCO Raises N10 Billion in Private Placement to Meet CBN Capital Requirement
Guaranty Trust Holding Company Plc (GTCO) has raised N10 billion through a private placement to ensure compliance with the Central Bank of Nigeria's (CBN) minimum capital requirement for commercial banks. The placement involved the sale of 125,000,000 ordinary shares at N80 per share.
The move follows GTCO's increase in capital to N504.037 billion and was authorized by the company's board. The private placement is set to close on December 31, 2025, subject to necessary approvals.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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