Gtco Boosts Capital Base, Targets Global Markets With New Share Listing

Guaranty Trust Holding Company (GTCO) Plc has successfully listed 2.288 billion ordinary shares on the Nigerian Exchange Limited (NGX), marking a key milestone in its latest capital-raising drive.

According to a statement from the NGX, the additional shares—each with a nominal value of 50 kobo—were listed on July 10, 2025. This follows the conclusion of GTCO’s public offer, which was priced at ₦70 per share. With this development, the company’s total issued and fully paid-up shares have increased from 34.137 billion to 36.425 billion.

GTCO has also set its sights on international expansion, announcing on July 3 its intention to list ordinary shares on the London Stock Exchange (LSE). The dual listing is expected to enhance investor access and flexibility, and strengthen the bank’s ability to attract global capital.

Group Chief Executive Officer Segun Agbaje emphasized the company’s financial targets, stating that GTCO aims to deliver a minimum 15% dividend yield and at least 25% return on equity (ROE). These ambitious benchmarks signal confidence in the company’s long-term growth trajectory.

Agbaje also outlined the company’s gradual yet strategic regional diversification plans. He revealed that Nigeria currently accounts for 67% of GTCO’s profit, while West Africa contributes 27%. The firm now plans to scale operations in East Africa (1.5% contribution) and the United Kingdom (1.8%).

As part of its geographic growth strategy, GTCO is preparing to enter the Senegalese market and will focus on fortifying branch networks in existing locations, prioritizing competitiveness over rapid expansion.

The successful share listing and expansion plans reinforce GTCO’s position as a key player in Africa’s financial sector, poised for greater participation in global capital markets.