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GTCO PLC Launches Public Offer to Raise N400.5Billion

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GTCO PLC Launches Public Offer to Raise N400.5Billion

 

Lagos, Nigeria – July 15, 2024 – Guaranty Trust Holding Company plc (“GTCO PLC” or the “Issuer”) (NGX: GTCO) today announced the opening of its Offer for Subscription of 9,000,000,000 Ordinary Shares of 50 kobo each at N44.50 per Ordinary Share (the “Offer”) following the clearance of the Offer Prospectus and registration of the Offer Shares by the Securities and Exchange Commission, Nigeria (SEC Nigeria). Net proceeds of the Offer will be applied toward the recapitalisation of GTCO PLC’s principal banking subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria) as well as support Group-wide growth and expansion initiatives.

Application List for the Offer opens on Monday, July 15, 2024, and closes on Monday, August 12, 2024.

The Prospectus incorporating the Application Form is available in physical format at all GTBank Nigeria branches nationwide and in electronic format from www.gtcoplc.com. The Prospectus and Application Forms can also be obtained in physical and electronic formats at the offices and websites of the Issuing Houses to the Offer:

Issuing Houses Websites
Stanbic IBTC Capital Limited (Lead Issuing House) stanbicibtccapital.com
ABSA Capital Markets Nigeria Limited cib.absa.africa
FCMB Capital Markets Limited fcmbcapitalmarketsng.com
Vetiva Advisory Services Limited Vetiva.com

The Prospectus and Application Forms are also available from the Stockbrokers to the Offer and other Receiving Agents nationwide.

Commenting on the launch of the Public Offer, the Group Chief Executive Officer of Guaranty Trust Holding Company plc, Segun Agbaje, said: “This equity capital raise is timely and marks a significant milestone in our strategic plan to pivot the organisation for transformational growth across the Banking businesses in and outside Nigeria, and the non-banking businesses; differentiating it as a leading Financial Services Group in Africa. Over the last three years, we have diversified the earnings of the Group beyond pure banking play, through the creation of a Payments subsidiary and selective acquisitions in the Funds Management and Pension Fund Administration sectors; delivering exceptional value to our stakeholders whilst also enriching the lives of people in every community where we operate”.

GTCO is the most capitalised Banking stock on the Nigerian Stock Exchange and has consistently outperformed its peers in terms of key profitability indicators and other financial metrics. Widely regarded as a first-rate financial institution, GTCO’s leadership in the Nigerian financial services industry and continuing efforts at empowering people and communities across Africa has earned it many prestigious awards over the years.

Before subscribing, please read the Offer Prospectus and where in doubt, consult your stockbroker, fund/portfolio managers, accountant, banker, solicitor, tax consultant or an independent adviser registered by the SEC for guidance. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About GTCO PLC

Guaranty Trust Holding Company Plc is the ultimate holding company of the GTCOPLC Group.

The GTCOPLC Group is one of the largest financial services institutions in Africa. Headquartered in Lagos, Nigeria, Guaranty Trust Holding Company Plc maintains direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom. Within these regions, the operating entities provide a comprehensive range of commercial banking and related financial services to millions of retail, institutional, private banking and wealth management customers, in addition to asset management, pension fund administration and payment technology businesses.

More information on the Offer can be found at www.gtcoplc.com.

For enquiries, please contact:

Investor Relations:
+234 2012714580
[email protected]

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From Vision to Empire: How Mujahid Turajo Built Til Group into a Multisector Giant

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*From Vision to Empire: How Mujahid Turajo Built Til Group into a Multisector Giant*

What started as a single company with a bold vision has grown into one of Nigeria’s most dynamic business conglomerates. Founded by the visionary Mujahid Turajo, Til Interiors began as a modest interior design company, bringing elegance and functionality to residential and commercial spaces.

Today, that vision has expanded far beyond design—Til Interiors has evolved into Til Group, a powerful conglomerate spanning food production, construction, global trade, and beyond.
With Til Foods, Til Interiors, Til Construction, and Til Global under its umbrella, Til Group is now a driving force in Nigeria’s economic landscape, fostering job creation, innovation, and industrial growth.

Til Interiors: The Foundation of an Empire
The journey of Til Group began with Til Interiors, a company that set out to revolutionise interior design and space transformation in Nigeria. Through innovative designs, premium materials, and expert craftsmanship, Til Interiors quickly gained a reputation for creating luxurious, functional, and aesthetically superior spaces for homes, offices, and commercial properties.

“Til Interiors was our foundation—it taught us the importance of detail, innovation, and excellence. Those same principles now define everything we do across all sectors,” says Mujahid Turajo.

Til Foods: Feeding Nations, Empowering Farmers
As Til Interiors flourished, Mujahid identified a critical need for self-sufficiency in food production and distribution, leading to the creation of Til Foods, which has now grown into a leader in Nigeria’s agribusiness and food industry.

Til Foods is dedicated to sustainable agriculture, food processing, and distribution, ensuring that Nigerians have access to high-quality, locally produced food products. The company oversees the entire value chain, from farming and production to retail and exports.
Within Til Foods, two major brands stand out:
Tomatil – A multi-billion naira state-of-the-art tomato processing factory in Kano, transforming fresh tomatoes into premium tomato paste and products, reducing Nigeria’s reliance on imports.

Til Grills & Restaurant – A high-end restaurant located in Ahmadu Bello Way, Kado, offering a unique dining experience that blends traditional flavours with modern culinary expertise.

“Til Foods is not just a business—it’s a mission to achieve food security, support local farmers, and put Nigeria at the forefront of global agribusiness,” says Mujahid.
Til Construction: Building the Future, One Structure at a Time
Recognising the urgent need for quality infrastructure and housing solutions in Nigeria, Til Construction was established to provide innovative, durable, and sustainable building solutions.

Today, it stands as a major player in real estate development, civil engineering, and large-scale construction projects.

One of Til Construction’s flagship projects is Concord, a residential development located in Life Camp, Abuja. Designed to redefine modern living, Concord features premium residential blocks that blend contemporary architecture with luxury, comfort, and sustainability. The project is set to transform Abuja’s skyline, offering state-of-the-art amenities, top-tier security, and elegant living spaces tailored for families and professionals alike.
“We are not just building structures; we are creating communities where people can thrive. Concord is a testament to our commitment to quality and innovation in Nigeria’s real estate sector,” notes Mujahid.

Til Global: Connecting Nigeria to the World
To support the group’s expansion into international markets and cross-border trade, Til Global was established as the conglomerate’s trade and logistics arm. This division ensures that African goods, resources, and services reach the world stage efficiently and competitively, fostering stronger trade relationships and expanding market access for Nigerian products.

A Legacy of Growth, Excellence, and Impact
From a single interior design company to a multisector empire, Til Group’s journey is a testament to strategic vision, resilience, and a relentless pursuit of excellence. Under Mujahid’s leadership, the company continues to expand, innovate, and set new benchmarks in food production, design, construction, and global trade.
“Our story is about growth, impact, and transformation. We started with a passion for design, and today, we are shaping industries and changing lives across multiple sectors,” Mujahid affirms.
As Til Group enters its next phase of expansion, the company remains committed to its core values of innovation, sustainability, and economic empowerment, ensuring that its legacy continues for generations to come.

*About Til Group*
Til Group is a diversified Nigerian conglomerate with subsidiaries in food production (Til Foods), interior design (Til Interiors), construction (Til Construction), and global trade (Til Global). The group is dedicated to driving industrial and economic growth through innovation, sustainability, and excellence.

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TRANSCORP POWER RELEASES UNAUDITED RESULTS FOR THE Q1 ENDED 31 MARCH 2025

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TRANSCORP POWER RELEASES UNAUDITED RESULTS FOR THE Q1 ENDED 31 MARCH 2025

 

 

 

Transcorp Power Plc (NGX: TRANSPOWER), one of the power subsidiaries of Africa’s leading and listed conglomerate, Transnational Corporation Plc (“Transcorp Group”), has announced its unaudited results for the first quarter ended March 31, 2025.

 

Key Highlights:

 

  • Robust Revenue Growth

 

o    An impressive 55% year-on-year increase in revenue, rising from 67.9 billion to 105.4 billion.

 

o    This strong performance was primarily driven by an increased available capacity of 625MW compared to 500MW in Q1, 2024. This growth has been achieved notwithstanding the liquidity challenges in the sector, showcasing our commitment to closing the power supply gap in the country. 

 

  • Significant Growth in Profit Before Tax

 

o    Profit before tax grew by 50%, from 28.8 billion in Q1, 2024 to 43.3 billion in Q1, 2025.

 

o    This substantial growth reflects not only higher revenues but also continued improvements in cost efficiency and operational excellence.

 

 

MD/CEO of Transcorp Power Plc, Peter Ikenga, comments:

 

“We delivered a strong performance in Q1 2025, reflecting our disciplined execution, reliable operations, and unwavering focus on efficiency. Despite the challenges impacting the sector, we continue to optimise our generating capacity from 500MW in Q1 2024 to 625MW in Q1 2025. We remain firmly committed to delivering long-term value for our shareholders while powering progress across Africa”.

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Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

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Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

The Governor of Ogun State, Prince Dapo Abiodun, CON, has congratulated real‑estate titan Aare Adetola EmmanuelKing, Chairman and CEO of ADRON Homes & Properties, on his 50th birthday.

“Reaching fifty in good health and remarkable professional standing is a testament to God’s grace,” the governor said.

Governor Abiodun lauded Aare Adetola’s “exceptional journey and unwavering commitment to excellence,” noting that ADRON Homes has expanded under his leadership from modest beginnings to a leading national developer that has broadened access to home-ownership for countless Nigerians.

“As governor of your home state, I am proud of your accomplishments,” Governor Abiodun added.

The Governor highlighted Aare Adetola’s deep‑rooted investment in people and the local economy, describing it as a reflection of faith in Nigeria’s limitless potential. He credited the celebrant’s “strategic foresight and community‑driven initiatives” with lifting the country’s real‑estate sector to new heights.

On behalf of his family and the people of Ogun State, Governor Abiodun wished EmmanuelKing continued health, wisdom, and impact, extending heartfelt congratulations to his family, friends, and associates on this golden jubilee milestone.

Ogun State Governor Dapo Abiodun Salutes Aare Adetola EmmanuelKing at 50

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