Norrenberger Acquires GTI's 4.35% Stake in NASD for N1.305bn

Norrenberger Securities Limited has acquired a 4.35% equity stake in NASD PLC from GTI in a deal valued at N1.305 billion. This strategic acquisition is seen as a game-changer in Nigeria's over-the-counter market.

The transaction, completed on November 12, saw GTI divesting its stake in NASD, showing confidence in the country's OTC exchange. NASD PLC, listed in 2013, has shown impressive growth, with its equity surging 93.29% year-to-date.

Eguarekhid Long, the MD and CEO of NASD, has been credited with transforming the platform into a profitable entity despite market challenges.