NOTICE OF PROPOSED OFFERING
Thank you for reading this post, don't forget to subscribe!Guaranty Trust Holding Company Plc (GTCOPLC) has submitted a preliminary “red herring” prospectus to the Securities and Exchange Commission (SEC) for a proposed offering of ordinary shares at 50 kobo each, aiming to raise up to N500 billion. The specific number of shares and price range are yet to be determined.
This submission is part of a concurrent filing of a preliminary universal shelf registration statement, enabling GTCOPLC to create a multi-currency securities issuance programme. This programme will allow the company to issue various types of securities up to a total value of U.S.$750 million (or equivalent in Nigerian Naira) in multiple offerings over time.
Purpose of the Offering
The net proceeds from the Proposed Offering will be used for:
1. The growth and expansion of GTCOPLC Group’s businesses through investments in technology infrastructure, establishment of new subsidiaries, and selective acquisitions of non-banking businesses.
2. The recapitalisation of Guaranty Trust Bank Limited.
Target Investors
The offering will be structured as an institutional offering for eligible investors and a retail offering within Nigeria (Nigerian Tranche). It will also include a private placement to qualified institutional buyers outside Nigeria (International Tranche).
Listing and Trading
GTCOPLC will seek approval from the Board of the Nigerian Exchange Limited (NGX) for the listing and trading of the Ordinary Shares on the NGX Official List.
Anticipated Timing
The Proposed Offering is expected to commence in July 2024.
Important Notice
This notice does not constitute an offer of securities for sale in the United States or to U.S. persons as defined in Regulation S under the United States Securities Act of 1933. The Ordinary Shares being offered have not been registered under the U.S. Securities Act and may not be offered or sold in the United States or to U.S. persons without registration or an applicable exemption.
About Guaranty Trust Holding Company Plc
Guaranty Trust Holding Company Plc is the ultimate holding company of the GTCOPLC Group, one of Africa’s largest financial services organizations. Headquartered in Lagos, Nigeria, GTCOPLC Group operates in 10 countries across Africa and the United Kingdom, offering commercial banking, asset management, pension fund administration, and payment technology services to millions of customers.
For Further Information, Please Contact:
Investor Relations:
Email: ir@gtcoplc.com
Phone: +234 2012714580
