"We see huge potentials in Nigeria and the sub regional markets in spite of the various challenges in this environment. We don't see it as constraint, very soon Tantalizers will be in every state of the federation .We are going to open shops in Ghana and Sierra Leone," the company vice chairman, Folu Ayeni told the gathering during the listing.
"We are getting positive feedback from Nigerians in diaspora, who want us to come and replicate the high quality of the African meals we serve in other places. That has given us the confidence to also want to explore the United Kingdom and the United States markets", he added.
At the close of Monday transactions, the company, listed under the food/beverages and tobacco sub sector, gained N0.17, to close at N3.67, having opened trading at N3.50.
Tantalizers, which commenced business 1997 with one outlet in Festac Town, a suburb of the country's commercial capital city of Lagos, has spread to 39 outlets a cross the country.
It intends to open ten more outlets before the end of the year. In 2001, it pioneered the serving of African foods in the fast food business.
Having completed a private placement programme in February through which 404 million shares of the company were offered to a select group of investors, it took the decision to translate from a limited liability company into a public liability company (Plc).
"The successful private placement raised the needed capital to enable the company actualise its growth plans, which included expansion of its services and operations. Franchise is a practise we have been using as a strategy for growth. This is a stock with great potentials for high return on investment," Bose Ayeni, chief executive officer of the company explained.
According to un-audited first quarter result published for 2008, the company has a turnover of over 1 billion naira and profit before tax of 104 million naira.
She predicted a turn-over growth over 2007 will be 46 per cent, with profit before tax to grow by 153 per cent.
"I think you have made the best choice in getting your share listed on the Nigerian Stock Exchange (NSE) which is one of the best in Africa, in terms of returns on investments. However, your shares can only make money when you perform and pr o vide adequate and accurate information," a stockbroker, Rasheed Yusuf said.
"There is no doubt the stock will add value to the market. It will provide opportunity for new investors. But it is important to also stress the need for the co m pany to be a good and worthy corporate citizen as a quoted company on the exchan g e, now that you have been listed. The potentials need to be transformed into high yields for the investors," another stockbroker advised.
Bineo Yaroe, of the Quotations and Listing Department of the exchange, who stood in for the director general disclosed the council has approved a separate sector under a different name be created for the company and others that wish so in th e market, instead of coming under the food/beverages and tobacco.
The management of Tantilizers Plc had proposed that its shares be listed under "Quick Service Restaurant" sub sector.
Yaroe, however said the exchange has not agreed with the name, adding that the shares will, for now, be trading under the food/beverages and tobacco sub-sector.
Lagos - 24/06/2008
Pana
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