TANZANIA CIGARETTE COMPANY (TCC)
INDUSTRY: MANUFACTURING INDUSTRY
DATE LISTED: 16th November,2000
IPO PRICE: 410
TCC is a member of the JTI Group of Companies, boasts a proud history that reflects the way the country itself has re-shaped over the past half a century.
The Company was established as East African Tobacco in 1961, just a few years later the Government of Tanzania acquired 60% equity in the Company, as part of Tanzania’s Nationalization program and the remaining 40% in 1975.
In 1995, RJ Reynolds acquired a 51% stake in TCC. In 1999, Japan Tobacco Inc. (JT) acquired all non-US Tobacco operations of RJ Reynolds, including its 51% stake in TCC. In September 2000, JT, through its international tobacco division, Japan Tobacco International (JTI), increased its shareholding in TCC from 51% to 75%, making JTI the majority shareholder in TCC.
Today, TCC listed 100,000,000 shares at the Dar es Salaam Stock Exchange on November 2000 at an IPO price of 410 per share. The company keeps performing through its brands Embassy, Sweet Menthol (SM), Portman, Club, Safari, Camel and Iceberg.