Tantalizers Plc

[Etubom]

I got feelers from an insider involved in the allocation at Skye Bank that Tantalizers is fully subscribed. I heard Jim Ovia simply approached the Ayeni's and practically mobed up the entire thing. Aaaaaarrrggghh, that sucks.

Does anyone know how we can get some at a premium? Will be willing to pay up to N7/unit.

[hispy99]

Originally Posted by Etubom

I got feelers from an insider involved in the allocation at Skye Bank that Tantalizers is fully subscribed. I heard Jim Ovia simply approached the Ayeni's and practically mobed up the entire thing. Aaaaaarrrggghh, that sucks.

Does anyone know how we can get some at a premium? Will be willing to pay up to N7/unit.

You think that Mr. and Mrs Ayeni will sell everything to JO? I doubt it. If Mr. and Mrs Ayeni own 100% of the company (kai, dem no fit even give staff 0.0001%, i fear naija entrepreneurs o ), you think they will now give JO that much control. Me say not possible.

[Etubom]

Originally Posted by hispy99

You think that Mr. and Mrs Ayeni will sell everything to JO? I doubt it. If Mr. and Mrs Ayeni own 100% of the company (kai, dem no fit even give staff 0.0001%, i fear naija entrepreneurs o ), you think they will now give JO that much control. Me say not possible.

Definitely, the Ayeni's will not allow outsiders, worst still a single outsider, to take the entire shares on offer. What I meant is that Uncle JO practically mobed up whatever the Ayeni's were willing to allow the public to buy into.

Still the greed of the Nigerian super-rich is baffling.

[hispy99]

Originally Posted by Etubom

Definitely, the Ayeni's will not allow outsiders, worst still a single outsider, to take the entire shares on offer. What I meant is that Uncle JO practically mobed up whatever the Ayeni's were willing to allow the public to buy into.

Still the greed of the Nigerian super-rich is baffling.

Ok...just got confirmation that the PP is sold out too.

[riskreturn]

I would like to be educated about this excitement and frenzy concerning this Tantalizer PP thing. Apart from the lumpiness (minimum of 5 million Naira), the price is expensive, a forward P/E ratio of about 14 times at end-2008. What do we expect PO to be if PP is so expensive - with all the attendant higher risk, lumpiness or indivisibility of units, etc? What of if the business is to go for PO by end-2008 or, say, end-March 2009? I would not expect the PO price to be above 7.5 Naira (i.e., 50% above the PP price), giving rise to a trailing P/E ratio of just above 20 times. Even the richly price Dangote Flour PO was hardly more expensive (at trailing P/E of 22 for end-2007) and it is only Bagco PO (and, if I remember correctly, Nahco PO too) that were more richly priced than this. So, with all the risks, lumbiness, etc, is 50% rate of appreciation per annum worth all the trouble and hasle - i.e., if it goes for PO at 7.5 Naira not later than 12 to 15 months from now?

I am not too convinced with the popularised comparison with the price of BigTreat that is currently rising to the sky. First, while I have not laid my hands on the PP memorandum of the BigTreat, I guess its price then must have been lower than that of Tantalizer PP, using P/E ratio as the indicator of cheapness. If this is correct, more room would be available for further price increase in the case of BigTreat upon being listed in the market. Second, I am not yet convinced if the observed ever-rising price of BigTreat is not artificial, arising from deliberate non-verification or delayed verification of the share certificates of those who subscribed for its PP. If something similar is done after listing of Tantalizer's shares in the market, of what use would be such artificially high shares prices to shareholders whose shares would be subjected to delayed verification to the extent that they could hardly sell such shares - until eventually, the price falls substantially? In any case, even if the price of Big Treat is being driven by market irrationality, we need not take it for granted that such irrationality would still characterise the price of Tantalizer after its shares are listed -simply because they operate in the same sector. Some of the banking stocks trade at very much higher P/E ratios than others of broadly similar risk profiles.

[hispy99]

Originally Posted by riskreturn

I would like to be educated about this excitement and frenzy concerning this Tantalizer PP thing. Apart from the lumpiness (minimum of 5 million Naira), the price is expensive, a forward P/E ratio of about 14 times at end-2008. What do we expect PO to be if PP is so expensive - with all the attendant higher risk, lumpiness or indivisibility of units, etc? What of if the business is to go for PO by end-2008 or, say, end-March 2009? I would not expect the PO price to be above 7.5 Naira (i.e., 50% above the PP price), giving rise to a trailing P/E ratio of just above 20 times. Even the richly price Dangote Flour PO was hardly more expensive (at trailing P/E of 22 for end-2007) and it is only Bagco PO (and, if I remember correctly, Nahco PO too) that were more richly priced than this. So, with all the risks, lumbiness, etc, is 50% rate of appreciation per annum worth all the trouble and hasle - i.e., if it goes for PO at 7.5 Naira not later than 12 to 15 months from now?

I am not too convinced with the popularised comparison with the price of BigTreat that is currently rising to the sky. First, while I have not laid my hands on the PP memorandum of the BigTreat, I guess its price then must have been lower than that of Tantalizer PP, using P/E ratio as the indicator of cheapness. If this is correct, more room would be available for further price increase in the case of BigTreat upon being listed in the market. Second, I am not yet convinced if the observed ever-rising price of BigTreat is not artificial, arising from deliberate non-verification or delayed verification of the share certificates of those who subscribed for its PP. If something similar is done after listing of Tantalizer's shares in the market, of what use would be such artificially high shares prices to shareholders whose shares would be subjected to delayed verification to the extent that they could hardly sell such shares - until eventually, the price falls substantially? In any case, even if the price of Big Treat is being driven by market irrationality, we need not take it for granted that such irrationality would still characterise the price of Tantalizer after its shares are listed -simply because they operate in the same sector. Some of the banking stocks trade at very much higher P/E ratios than others of broadly similar risk profiles.

my broda, i never considered the PP a bargain; just thot it was ok, nothing special, especially after going through the prospectus. However, it is highly probable that the price will shoot up once it gets listed, but like you mentioned, people like you and me that subscribed to the PP will most likely not benefit from this spike as we would not have share certificates e.t.c

CHAMS PP was tantalizing...Tantalizers PP was at best ok.

[Babs_O]

I would have bought Tantalizers if not for the stiff entry Price. For the reason that it is very possible they have seriously under projected. That they have projected the worst case. That in reality they may end up making profits x10 what they projected if they execute the business well.

Abeg somebody tell me its not sold out, that the entry price has been dropped to about a 1/10 th of original proposal.

[Babs_O]

I would have bought Tantalizers if not for the stiff entry Price. For the reason that it is very possible they have seriously under projected. That they have projected the worst case. That in reality they may end up making profits x10 what they projected if they execute the business well.

I wish it is not sold out, that the entry price has been dropped to about a 1/10 th of original proposed.

[hispy99]

Originally Posted by Babs_O

I would have bought Tantalizers if not for the stiff entry Price. For the reason that it is very possible they have seriously under projected. That they have projected the worst case. That in reality they may end up making profits x10 what they projected if they execute the business well.

I wish it is not sold out, that the entry price has been dropped to about a 1/10 th of original proposed.

I would be surprised if they "under-projected", most of these firms that do PO/PP are aggressive if not very aggressive in their projections..my 2 cents

The confirmation that it was closed came from a contact who works in the IB group at Skye Bank

[EIC]

@Alanbow,
Sorry, didn't see your email untill very late.

The problem with the upload had to do with the settings on our server. We've changed it so you can now upload files up to 20MB in size.

Thanks for helping us solve this problem.

Kind regards.

[Rapidresult]

Any news on this PP?

[hispy99]

Originally Posted by Rapidresult

Any news on this PP?

the pp already closed

[olusolakemmy]

Originally Posted by hispy99

the pp already closed

what!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
how many days did the PP lasted???????????????????????????????????????

[hispy99]

Originally Posted by olusolakemmy

what!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
how many days did the PP lasted???????????????????????????????????????

maybe like a day, or a couple of days

[Betiku Franklin Olugbenga]

Originally Posted by hispy99

maybe like a day, or a couple of days

Na wah o!!!!!!!