GTCO Spikes to N2.128 Trn on New Shares Listing
Market value of GTCO Plc spiked to N2.128 trillion at the beginning of the week as the financial services group listed its public offer on the Nigerian Exchange.
The new shares listed increased its shares outstanding on the Nigerian Exchange, NGX, to 34.136 billion, and its market value surged.
In a note, stockbrokers at Atlass Portfolios Limited told investors that the banking group listed its public offer of 9,000,000,000 ordinary shares of 50 kobo each at ₦44.50 per share on the exchange today.
A further check on the Nigerian Exchange Data revealed that that the Holdings stock price inched higher to N62.35, from N61.25 on Friday.
During intraday trading session, the market had priced GTCO share at N64 before it retreated. In Nigeria, GTCO is the first banking group whose market value crossed N2 trillion market.
GTCO is expected to release its fourth quarter earnings results and its audited financial statement next month. #GTCO Spikes to N2.128 Trn on New Shares Listing#
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