IFC must be finding some economic value in the floundering food business in Nigeria. After investing in Food Concepts (owners of IFC) has now taken another in Tantalizers as the excerpts of this report suggest.
The International Finance Corporation (IFC), the private sector arm of the World Bank Group has acquired 8 per cent equity stake in Tantalizers Plc.
According to the company’s chief executive officer, Mrs. Bose Ayeni, the money from IFC with 8 per cent equity stake in the company, would be used to renovate Tantalizers outlets nationwide in a bid to increase the excitement around the Tantalizers brand.
“It will also be used to build new outlets and consolidate the deployment of the Tantalizers IT platform that links online all its stores throughout the country,” she said.
Tantalizers Plc had on June 23, 2008, listed by introduction 2.95 billion ordinary shares of 50 kobo each at N3.50 kobo per share. As at Monday, the market share price of the company was N0.50 per share.
Would be interesting to see what this does to their share price and the effect it will have on the competition . At the current market cap of N1.6billion that value should be about N128million. Follow link below for source of article