Market insiders describe Norrenberger Securities Limited’s acquisition of a strategic 4.35% stake in NASD Plc for N1,305,708,600 as the biggest institutional vote of confidence in the nation’s over-the-counter exchange in more than a year. At N60 per share, the massive transaction represents an astounding 111.7% premium over NASD’s current trading price of N28.35.One of the biggest secondary market exits in recent OTC trading history occurred when the sellers, three GTI Group affiliates (GTI Securities Limited, GTI Capital Limited, and GTI Asset Management & Trust Limited), sold 21.76 million shares. The development was characterized by analysts as a significant validation of the OTC exchange’s long-term growth trajectory and a major vote of confidence.
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