Norrenberger acquires 4.35% stake in NASD for N1.31bn

Norrenberger Securities Limited has acquired a strategic 4.35% stake in NASD Plc for N1,305,708,600, executing what market insiders are calling the most significant institutional vote of confidence in the country’s over-the-counter exchange in over a year. The huge transaction, executed at N60 per share, represents an eye-popping 111.7% premium over NASD’s current trading price of […]

Norrenberger Securities Limited has acquired a strategic 4.35% stake in NASD Plc for N1,305,708,600, executing what market insiders are calling the most significant institutional vote of confidence in the country’s over-the-counter exchange in over a year.

The huge transaction, executed at N60 per share, represents an eye-popping 111.7% premium over NASD’s current trading price of N28.35.

The sellers, a trio of GTI Group affiliates (GTI Securities Limited, GTI Capital Limited, and GTI Asset Management & Trust Limited), offloaded 21.76 million shares, marking one of the largest secondary market exits in recent OTC trading history.

Analysts described the development as a major vote of confidence in the OTC exchange and a significant validation of its long-term growth trajectory.

Established in 2017, Norrenberger is an integrated financial services group led by Group Managing Director and Chief Executive Officer, Tony Edeh, with operations spanning securities trading, investment banking, private equity, and asset management.

The acquisition is seen as a strategic positioning by the Abuja-based firm within the country’s capital market infrastructure, giving it a foothold in Nigeria’s primary alternative securities trading ecosystem.

Market observers noted that Norrenberger’s willingness to pay a significant premium underscores strong institutional belief in NASD’s future prospects.

The exchange, under the leadership of Managing Director and Chief Executive Officer, Eguarekhide Longe, has undergone a remarkable transformation from a modest OTC platform into a profitable and expanding market operator.

NASD’s performance metrics have reinforced investor optimism.

The company’s revenue rose by 308 per cent to N657m in the first half of 2025, while second-quarter profit surged to N129.3m, marking a 646 per cent turnaround from a prior year loss. Trading income jumped 264 per cent to N1.07bn, and the firm paid its first-ever cash dividend of 20 kobo per share earlier this year.

Since its listing on its own platform in 2013 at N1.50 per share, NASD’s stock has delivered exceptional capital appreciation, climbing as high as N29.98 in 2025 equivalent to a compound annual growth rate of 28.35 per cent. Year-to-date, the stock has appreciated by 93.29 per cent, outperforming most listed equities amid persistent macroeconomic headwinds.

Market experts believe the Norrenberger deal could set a new valuation benchmark for NASD Plc and reshape perceptions about liquidity and institutional participation in the OTC market.

According to them, the N60 transaction price will likely serve as a new reference point for future trades and valuations on the platform.

The N1.3bn trade, completed on November 12, 2025, marks one of the most consequential shifts in ownership structure within Nigeria’s capital market in recent years.