CRDB Bank TSh152 billion DSE rights issue

Overview:

• CRDB Bank, a commercial bank in Tanzania, raised TSh152 billion in a rights issue on the Dar es Salaam Stock Exchange. 
• The offering was priced at TSh350 per share.
• International Finance Bank, CDC Group and Africa Capitalization Fund acted as underwriters.
• The funds raised from this transaction will help maintain the bank's capital adequacy ratio, finance network expansion in Tanzania and help to finance investment in IT. 

Rani Mehta - Journalist