Ericsson wrote:https://www.businessdailyafrica.com/corporate/companies/East-African-Cables-seeks-to-raise/4003102-5314614-4hnshr/index.html
East African Cables is considering raising new capital from shareholders to run its operations which have been constrained by high finance costs and inadequate funds to deliver contracts.
The company is also seeking to sell assets worth Sh640 million to reduce its debt burden.

They should just take it private. I don't see the minority shareholders being overly excited about giving EAC/TCL more money!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett