Big Treat lists equity by way of introduction
December 16th, 2007 Tunde Brown || tunde.brown@stockmarketnigeria.com
By Tunde Brown
Big Treat, a food processing household name, has listed by way of introduction, two billion ordinary shares of 50k each at N2.85k per share, on the Nigerian Stock Exchange. The Managing Director of the company, Pamela Wu stated that the company has expansion programmes in the pipeline that would take the company to places in the northern parts of the country, and West Africa.
She further noted that the motive for the listing was more of an initiative to ‘give back what the company has been able to generate to the people’, enabling Nigerians to benefit in the future ahead of the company.
Big Treat started business in Nigeria in 1991 as a small shop on Opebi Road in Lagos, now has over 22 outlets across the country with factories in Lagos, Kano, Kaduna, Port Harcourt, Abeokuta, Aba, Onitsha among others. It also has a franchise at Ibadan. The company has invested over N3billion in equipment and has gone into the production of a fresh milk brand, Pala Milk.
Big Treat belongs to a sub sector (food and beverage) known for relative stability and less volatility. The company share price, closed on Tuesday 11th December 2007 at N3.46k, opened at N3.63k for trading on Wednesday, closing at the same price (N3.63k). This represents an appreciation of 27.36 percent over the past one week.
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