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    GTCO Spikes to N2.128 Trn on New Shares Listing

    Julius AlagbeBy No Comments1 Min Read
    GTCO Spikes to N2.128 Trn on New Shares Listing

    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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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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