Tantalizers Eyes N2.5 Billion Capital Raise and Merger Ambitions

Tantalizers Plc has obtained shareholder approval to raise N2.5 billion via a hybrid offer, aiming to increase its share capital from N2.5 billion to N5 billion. This move, decided at an extraordinary general meeting in Lagos, includes options for capital raising through private placement, public offering, or rights issue, all subject to regulatory approval. The shareholders also waived pre-emptive rights, allowing the board to offer shares to third parties and absorb any oversubscription. Furthermore, Tantalizers is set to explore strategic restructuring options, including potential mergers, acquisitions, business combinations, or becoming a holding company. The company aims to unlock more value for its shareholders and enhance its market position.