GTB considers $30million share placement
Guaranty Trust Bank
said on Monday it was considering a proposal from the International
Finance Corporation (IFC) to buy up to $30 million worth of new shares
in a private placement. GTB said, in a statement, it was giving
“serious consideration” to the proposal from the IFC, the World Bank’s
private sector lender, and that it would convene a shareholders’
meeting if its board approved the move.
GTB is one of the top five lenders by assets in sub-Saharan Africa’s
second biggest economy and has said it plans to raise capital from time
to time over the next few years to enhance its funding and lending
capabilities. It completed a $90 million naira-denominated bond
placement at the end of 2009, Nigeria’s first corporate debt issue in
years, and successfully issued $350 million of 5-year Eurobonds in
January 2007.
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