Prime Business Africa
Ovirih Israel, a non-executive director of Tantalizers Plc, and Ifidon Charles, the company’s group deputy managing director (DMD), have sold part of their shares to milk the fast-food’s bullish run in the Nigerian Exchange (NGX).
In the last one year, demand for Tantalizers’ shares has pushed the price of the equity up by 107.80 percent between January 29, 2025, and January 29, 2026.
Join our WhatsApp ChannelAccording to data on the company’s share performance, Tantalizers’ share price increased from N2.05 to N4.26 kobo, indicating a N2.21 kobo growth.
During the period under review, Prime Business Africa’s analysis showed that Tantalizers’ market valuation increased by N11.05 billion.
The company was valued at N10.25 billion as of January 29, 2025; however, Tantalizers’ market valuation surged to N21.30 billion on January 29, 2026.
With the company’s share value skyrocketing by 107.80 percent in 12 months, Israel sold 52 million shares to take out N163.28 million.
The shares held through Banklink Africa Private Equities Limited were sold in two tranches: 2 million shares were sold on January 19, and 50 million shares were sold on January 20.
Prime Business Africa analysis showed that the shares sold by Israel were worth N106.6 million a year ago.
Also, Charles took out N10.08 million from his investment in Tantalizers by selling 3 million shares and another 20,850 shares on January 20 — bringing the total shares sold to 3.02 million.
However, a year ago, the shares were worth N6.19 million.
In total, both Israel and Charles sold 55.02 million shares to take out N173.36 million from their investments in Tantalizers.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
