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    UK Court awards £20m Damages in favour of Nigeria against P&ID

    FG, States, LGs share ₦2.00 Trillion for month of July 2025

    SEC warns against investing with GVEST Global’s illegal schemes

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    Brent crude oil price rise above $70 on OPEC projections

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    • Africa
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  • Economy
    • All
    • Budgets
    • Economic Data
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    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

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    UK tightens visa rules for care workers, skilled workers and students

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    United States scraps visa dropbox service for Nigerian applicants

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    Buhari says Nigeria security and economy improved during his tenure

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    Shareholder’s resolutions at Guaranty Trust Bank’s Annual General Meeting

    GTBank gets ₦365.85 capital injection, meets new minimum capital requirement

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GTCO is offering a subscription of 9,000,000,000 Ordinary Shares of 50 kobo each at ₦44.50 per share

Monday, 15 July 2024, 11:00 am
in Business, Rates & Bonds, Stocks/Equities
0
GTCO is offering a subscription of 9,000,000,000 Ordinary Shares of 50 kobo each at ₦44.50 per share
Share Share Share Share Send as Email

The Guaranty Trust Holding Company is offering a subscription of 9,000,000,000 Ordinary Shares of 50 kobo each at ₦44.50 per share. The application list opens on Monday 15th July 2024, and the closes on Monday, 12th August 2024.

Payment should be made in full on application. Completed physical application forms along with payment/evidence of payment for the full amount payable should be submitted no later than Monday, 12th August 2024 to the receiving agents listed in the prospectus.

Electronic applications should be made no later than Monday, 12th August 2024.

Summary of the Offer:

Securities Offered: 9,000,000,000 New Ordinary Shares of 50 kobo each.

Issuer: Guaranty Trust Holding Company Plc.

Lead Issuing House: Stanbic IBTC Capital Limited.

Joint Issuing Houses: Absa Capital Markets Nigeria Limited, FCMB Capital Markets Limited, and Vetiva Advisory Services Limited.

Share Capital: Issued and fully paid ₦14,715,589,612 divided into 29,431,179,224 Ordinary Shares of 50 kobo each. Now being offered 9,000,000,000 New Ordinary Shares of 50 kobo each.

Offer Price: ₦44.50 per Offer Share.

Use of Proceeds: After the deduction of the costs and expenses of the Offer, which is estimated at ₦8,010,000,000.00 (representing 2.0% of gross proceeds), the net proceeds of ₦392,490,000,000.00 will be utilized for the recapitalization of GTBank Nigeria (94.3% of net proceeds) and growth and expansion of the group: acquisitions in pension fund administration/asset management businesses (5.7% of net proceeds).

The Offer Shares allocation is split between the Institutional Investors and the Retail Investors, with 50% (4,500,000,000 Offer Shares) allocated to each.

The Issuer reserves the right to alter the Allocation Split based on the demand expressed by each class of investor. The Offer is made through a fixed price mode, with a minimum subscription of 100 Offer Shares and multiples of 10 Offer Shares thereafter. The Market capitalization at the offer price (Pre-Offer) is ₦1,309,687,475,468.00, and (Post-Offer) assuming full subscription, it is ₦1,710,187,475,468.00.

This offer is not underwritten at the instance of the Issuer. The New Ordinary Shares will rank pari passu in all respects with the Existing Ordinary Shares.

The Offer Shares will be allotted in accordance with the SEC Rules, which prescribe that all investors shall receive the minimum application in full. After that, the residual balance shall be allotted as prescribed under the Allocation Split or as otherwise determined by the Issuer and the Issuing Houses.

The rest of the information is attach here

 

Vivian Ifunanya Gerald

Engineer, Entrepreneur, forex trader and Analyst

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