{"id":39774,"date":"2021-10-29T18:50:31","date_gmt":"2021-10-29T18:50:31","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=39774"},"modified":"2021-10-29T16:22:54","modified_gmt":"2021-10-29T16:22:54","slug":"tanga-shares-surge-after-takeover-news","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news","title":{"rendered":"Tanga shares surge after takeover news"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>TANGA Cement shares demand has surged following announcement that the firm is sold to Twiga Cement parent company.<\/p>\n

The demand pushed up the Tanga-based cement firm price by almost 10 per cent to 450\/- at the closing of trading on Wednesday. Tanga trades as Simba Cement.<\/p>\n

Orbit Securities Head of Research and Analytics, Mr Imani Muhingo said yesterday that the announcement had already altered the price and momentum on the counter. \u201c\u2026We see more bids and zero offers while at the same day of the announcement\u2026,\u201d Mr Muhingo told \u2018Daily News\u2019. Yesterday, Tanga Cement issued a cautionary note following the proposed acquisition by Scancem International of 68.3 per cent held by AfriSam Mauritius Investment and the Tanzania public institutions and individuals\u2019 31.7per cent.<\/p>\n

The indicative price values the company at approximately 201bn\/-, while taking the latest unaudited Simba numbers the total debt stands at about 177bn\/-, this roughly leaves a value of 374\/- per share, less than the current trading price.<\/p>\n

\u201cI just hope the public shall take the announcement by its title, a \u2018cautionary notice\u2019, and trade the shares with caution, because, as the notice says, the indicative price is subject to adjustments, the most significant being Simba\u2019s huge debt,\u201d Mr Muhingo said. However, he said \u201cwe all wait to see how the adjustments shall affect the final acquisition price\u201d.<\/p>\n

The 137.33bn\/- takeover is now waiting for regulatory approvals from the Tanzania Fair Competition Commission (FCC) and the Tanzania Mining Commission (TMC), among other regulators in and outside the country.<\/p>\n

The Vertex International Securities Advisory and Capital Markets Manager, Mr Ahmed Nganya said shareholders of Simba Cement should expect a huge windfall if the acquisition materializes.<\/p>\n

\u201cWe understand they have set the timeline for the second quarter of next year. However, it might take longer as this involves multiple regulatory authorities including Tanzanian and South African,\u201d Mr Nganya told \u2018Daily News\u2019 yesterday. Normally, he said, the price of Tanga Cement is expected to rise, as current shareholders would not be ready to part ways with their holdings without a gain.<\/p>\n

\u201cWe forecast the price to continue to increase as investors will flock into the counters anticipating the huge capital gain from the announced acquisition,\u201d Mr Nganya said.<\/p>\n

The buyout also will need to get the approval by shareholders of Tanga Cement by way of special resolution passed at an extraordinary meeting as required by the Capital Markets and Securities\u2014substantial acquisitions, takeovers and mergers\u2014Regulations, 2006.<\/p>\n

Other conditions include, The Tanzania Revenue Authority (TRA) issuing a tax clearance certificate in relation to acquisition and approval by the Financial Surveillance Department of the South African Reserve Bank.<\/p>\n

Scancem is a subsidiary of Heidelberg Cement, which owns Twiga Cement while AfriSam is the owner of Tanga Cement.<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. TANGA Cement shares demand has surged following announcement that the firm is sold to Twiga Cement parent company. The demand pushed up the Tanga-based cement firm price by almost 10 per cent to 450\/- at the closing of trading on Wednesday. Tanga trades as Simba Cement. Orbit Securities Head of Research and […]<\/p>\n","protected":false},"author":84,"featured_media":39773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-39774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nTanga shares surge after takeover news - Tanzania<\/title>\n<meta name=\"description\" content=\"TANGA Cement shares demand has surged following announcement that the firm is sold to Twiga Cement parent company. The ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tanga shares surge after takeover news\" \/>\n<meta property=\"og:description\" content=\"TANGA Cement shares demand has surged following announcement that the firm is sold to Twiga Cement parent company. The ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-29T18:50:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/10\/img-617c1faf6902e.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Tanga shares surge after takeover news\",\"datePublished\":\"2021-10-29T18:50:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news\"},\"wordCount\":475,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/10\/img-617c1faf6902e.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news\",\"name\":\"Tanga shares surge after takeover news - Tanzania\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/10\/img-617c1faf6902e.jpg\",\"datePublished\":\"2021-10-29T18:50:31+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"TANGA Cement shares demand has surged following announcement that the firm is sold to Twiga Cement parent company. The ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/10\/img-617c1faf6902e.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/10\/img-617c1faf6902e.jpg\",\"width\":720,\"height\":479,\"caption\":\"Tanga shares surge after takeover news\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/tanzania\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tanga shares surge after takeover news\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#website\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/\",\"name\":\"Tanzania\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/tanzania\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tanga shares surge after takeover news - Tanzania","description":"TANGA Cement shares demand has surged following announcement that the firm is sold to Twiga Cement parent company. The ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news","og_locale":"en_US","og_type":"article","og_title":"Tanga shares surge after takeover news","og_description":"TANGA Cement shares demand has surged following announcement that the firm is sold to Twiga Cement parent company. The ...","og_url":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news","og_site_name":"Tanzania","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2021-10-29T18:50:31+00:00","og_image":[{"width":720,"height":479,"url":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/10\/img-617c1faf6902e.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Tanga shares surge after takeover news","datePublished":"2021-10-29T18:50:31+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news"},"wordCount":475,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/10\/img-617c1faf6902e.jpg","keywords":["Africa Press","Africa Press-Tanzania","tanzania"],"articleSection":["all news","Economy","homepage-english","twitter"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news","url":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news","name":"Tanga shares surge after takeover news - Tanzania","isPartOf":{"@id":"https:\/\/www.africa-press.net\/tanzania\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/10\/img-617c1faf6902e.jpg","datePublished":"2021-10-29T18:50:31+00:00","author":{"@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"TANGA Cement shares demand has surged following announcement that the firm is sold to Twiga Cement parent company. The ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#primaryimage","url":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/10\/img-617c1faf6902e.jpg","contentUrl":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/10\/img-617c1faf6902e.jpg","width":720,"height":479,"caption":"Tanga shares surge after takeover news"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/tanga-shares-surge-after-takeover-news#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/tanzania\/"},{"@type":"ListItem","position":2,"name":"Tanga shares surge after takeover news"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/tanzania\/#website","url":"https:\/\/www.africa-press.net\/tanzania\/","name":"Tanzania","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/tanzania\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/posts\/39774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/comments?post=39774"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/posts\/39774\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/media\/39773"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/media?parent=39774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/categories?post=39774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/tags?post=39774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}