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.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
Read full article
Continue on Business Day
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Norrenberger Acquires 4.35% Stake in NASD Plc for N1.3 Billion
Norrenberger Pensions Grows Client Base to 164,619, Income Hits ₦2.5bn Amid Economic Challenges
GTCO and MTN Nigeria Drive Nigerian Stock Market to N171 Billion Gain
Nigeria's Deal Market Booms Ahead of New CGT Implementation
Nigerian Stock Market Loses ₦1.8 Trillion Amid Capital Gains Tax Anxiety
Nigerian Investors Gain N141 Billion in Five-Hour Trading Surge
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
