Norrenberger Acquires 4.35% Stake In NASD For N1.3bn

Norrenberger Securities Limited has acquired a strategic 4.35 per cent stake in NASD Plc for N1.306 billion in a transaction that will reverberate across Nigeria’s capital markets.

This marks the largest institutional investment in the country’s over-the-counter Exchange this year. The deal, executed at N60 per share, represents a 111.7 per cent premium to NASD’s current trading price, showcasing Norrenberger’s confidence in the exchange’s prospects.

GTI Group, comprising GTI Securities, GTI Capital, and GTI Asset Management & Trust, has divested its entire stake, signalling a shift in the market’s dynamics.

NASD Plc was listed on its own platform in 2013 at N1.50. Fast forward twelve years: the share price hit N29.98 by July 2025, a mind-bending 28.35 per cent compound annual growth rate that turned N100,000 into N1.99 million.

Even in 2025’s turbulent market, NASD equity has surged 93.29 per cent year-to-date, rocketing from N15.51 in January to current levels.

Under the MD/CEO Eguarekhide Longe’s leadership, NASD has transformed from a sleepy OTC platform into a profit-printing machine, even as its broader market capitalisation weathered storms from Aradel Holdings’ high-profile 2024 exit to NGX.

This heavyweight action by Norrenberger, an integrated financial services group established in 2017, led by Group MD/CEO Tony Edeh, spanning eight business verticals from securities dealing to private equity to investment banking, requires the market to pay attention.

Some analysts pointed to the infrastructure angle, saying a 4.35 per cent stake in Nigeria’s premier OTC exchange positions Norrenberger closer to deal flow and market intelligence as NASD pursues digital securities and new product categories.

Others noted the valuation arbitrage: if NASD secures two to three credible listings in 2026 and market cap expands toward historical levels, the N60 price tag starts looking less generous and more calculated.

GTI Securities Limited, GTI Capital Limited, and GTI Asset Management and Trust Limited have completely divested their NASD holdings of 21.762 million at N60 per share, representing a total exit of N1.31 billion in institutional holdings.

The divestment removes a major institutional shareholder from NASD’s register, even as the firms continue to operate as registered participating institutions on the platform.