TANGA, Sept. 30 -- TANGA Cement Plc has rolled out the countrys largest-ever rights issue, seeking to raise 204bn/- to settle foreign-denominated debt, strengthen its balance sheet and pave the way for future expansion.

Trading as Simba, the cement makers month-long offer, launched in Dar es Salaam yesterday, surpasses CRDB Banks landmark 152bn/- rights issue launched a decade ago.

Shareholders can purchase new shares at 1,600/- each—representing a 38.2 per cent discount from the prevailing market price of 2,590/-.

The Capital Markets and Securities Authority (CMSA) Chief Executive Officer, Mr Nicodemus Mkama, said the authority is pleased with Tanga Cements ongoing strategic initiatives, including reducing foreign-denominated de...