Na wah o! Guaranty Trust Holding Company (GTCO) don gather better men from Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) waka come give dem green light to go ahead with their private placement wey go raise N10 billion. Dis announcement no be small matter, e come straight from their mouth as dem post am for Nigerian Exchange (NGX).

According to GTCO, dis private placement na part of wetin dem dey do under Section 7.1 wey concern regulation of financial holding companies. Dem gree to raise dis money after sharp action from shareholders wey say make dem call for this capital-raising move during their annual general meeting wey happen for May 9, 2024.

The gist be say GTCO dey plan to raise as much as $750 million or e equivalent in naira. Dem fit touch this money through ordinary shares, preference shares, and even bonds. E mean say dem dey plan like real big boys, no be say dem just dey play small.

Now, as part of the hustle, dem wan sell 125 million ordinary shares at N80 each to bring in that sweet N10 billion. Dem don already arrange with some professional parties wey go use their connections to find buyers for this offer. But abeg, no be say dem don underwrite the offer, e be like say dem dey play chance small.

The closing date for the offer na December 31, so if you dey plan to chop some of this share pie, better shine your eye and move fast! Of course, all dis na dey happen subject to some conditions wey dem go follow after dem don secure all necessary approvals.

To cap am all, Guaranty Trust Bank Limited, wey be GTCO’s banking arm, don already meet up with the minimum capital requirement wey CBN set for banks wey get international authorisation. Their capital base don grow reach N504 billion. So, dem dey gree say dem no wan slack for this one. Na only time go tell how this placement go land, but one thing we know be say, na sharp investment wey dem dey eye!