TANGANDA Tea Company is planning to raise US$7,7 million through a rights offer to shareholders and a listing on the Victoria Falls Stock Exchange subject to approval at an extra-ordinary general meeting at a date to be announced.
The proceeds from the rights offer are expected to strengthen the company’s balance sheet, priming it for longer-term sustainable growth.
Through the offer, Tanganda will be able to raise capital to pursue growth strategies without accumulating any additional debts.