Tantalizers Plc share price surged over 19% week-to-date in the first trading week of March 2025, climbing from N1.98, the price at which it opened on Monday, to N2.37 by the close of trading on Thursday.
The company recently announced a partnership agreement with the US-based marine group Quinn Fisheries and Harvester Fishing, aimed at acquiring 10 fully equipped modern fishing trawlers.
As detailed in a statement on the Nigerian Exchange on March 4, 2025, this collaboration is part of Tantalizers’ strategy to enter Nigeria’s blue economy and diversify into growth sectors.
So far, in the first week of March 2025, Tantalizers has risen to N2.37 in the Nigerian stock market, marking an over 19% gain, likely driven by positive sentiment surrounding the company’s shares.
Market trend
Tantalizers reported a strong performance in 2024 in the Nigerian stock market, achieving a year-to-date gain of 336.17%.
The stock opened 2024 at N0.47 and experienced steady increases during the first half of the year, with a significant uptick in August.
- In November, the announcement of a N1 billion capital injection from new investors likely contributed to a rise in share prices from N0.64 to N2.05 by year-end.
However, January 2025 saw the stock close at N2.14, with a market volume of 384.9 million shares, followed by a decline to N1.90 in February.
- As of March 6, 2025, the stock is staging a recovery from February’s lows, having increased over 19%.
Possible drivers of bullish sentiment
In late December 2024, Tantalizers announced the signing of a Memorandum of Understanding (MoU) to acquire all assets of DanBethel Marine Services Limited, a marine and fishing enterprise located in Apapa.
- This development followed the company’s earlier announcement that Messrs Food Specialties and Banklink Africa Private Equities had collectively invested N1 billion in private equity, allowing them to secure a majority stake in Tantalizers.
Recently, Tantalizers revealed its acquisition of 10 modern fishing trawlers from the US-based marine groups Quinn Fisheries and Harvester Fishing. This move is part of the company’s broader strategy to explore opportunities within Nigeria’s blue economy.
- As of March 6, the stock had gained over 19% within a brief timeframe, with a weekly trading volume of 26.1 million shares.
While the reasons behind the rapid rise in share prices might not be completely clear, it is likely that the recent acquisition announcements—especially the purchase of the trawlers—have played a role in boosting investor confidence.
