DAR ES SALAAM - September 17, 2026: TOL Gases PLC has officially opened a TZS 8.17 billion Rights Issue to expand its carbon dioxide (CO₂) production capacity, marking the next phase in the growth and transformation of one of Tanzania’s longest-established industrial and medical gases companies.
Under the Rights Issue, TOL Gases is offering 11,501,193 new ordinary shares at TZS 710 per share to eligible existing shareholders.
Eligible shareholders are entitled to one new share for every five ordinary shares held as at the Record Date of Monday, September 14, 2026.
The offer opened on Thursday, September 17, 2026, and will close at 4:00 p.m. on Thursday, October 8, 2026.
The new shares are expected to be listed and commence trading on the Dar es Salaam Stock Exchange (DSE) on Thursday, October 22, 2026, subject to applicable listing requirements.
Capital to expand CO₂ production
The proceeds of the Rights Issue will primarily be used to expand TOL Gases’ carbon dioxide production capacity and related infrastructure.
The investment will cover the design, procurement, installation and commissioning of a new CO₂ production facility, together with supporting logistics and operational requirements.
The capital raise comes as demand for TOL’s products continues to grow beyond the capacity of its existing production facilities, limiting the company’s ability to fully serve domestic requirements and regional opportunities.
Chairperson of the TOL Gases Board of Directors, CPA Leonard Kitoka, said the Rights Issue represents an important transition for the company from business recovery to its next phase of investment and growth.




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