GTCO Recovers after Investors Price Block Trade
GTCO climbs slightly in the equities segment of the Nigerian Exchange after the financial giant was priced at N61 in a 13 million block trade on Thursday.
At the close of trading session, its market price declined to N60.5, and during the intraday session, its market price has recovered.
Data from the Nigerian Exchange showed that financial services company’s share price has inched higher to N61 after it slumped in the previous day.
A total of 26,685,418 shares of GTCO were traded in the local bourse with price slipping to N60.5 from N61.6. Stockbrokers said out the volume, 13 million shares were blocked trade transactions negotiated privately to reduce price fluctuation.
The deal was executed outside the Nigerian Exchange trading platform that explained why price fluctuation was minimal. GTCO is trading at fair discount to its 52-week high of N64.5 in the equities market.
GTCO Plc market value hovers at N2.082 trillion during intraday trading session on Friday ahead of its 2024 earnings results. # GTCO Climbs after Investors Price Block Trade at N61. #GTCO Recovers after Investors Price Block Trade#
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