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HomeBusinessSky Fall! Dangote’s Cement Shares Drop Amidst Mines Dispute

Sky Fall! Dangote’s Cement Shares Drop Amidst Mines Dispute

Value of Dangote Cement shares has fallen………

The value of Dangote Cement shares has fallen from N251 per share from Saturday, December 16, 2017, to N223 per share as at Thursday, January 4, 2018.

The loss is estimated to be in the region of Nbillions of naira.

Checks by newsheadline247 revealed Dangote cement has an authorised shares of 20,000,000,000.

As at press time, the outstanding stands at 17,040,507,405.

Information gathered indicates ‘the loss accumulating from the fall in price from N233 from Dec 16 is said to be hurting’.

‘’The mega loss is deeply hurting’’ a source informed.

Interestingly, this development comes at a period the cement company is engaged in raging mines dispute with competitor BUA.

And industry watchers have started drawing a line between Dangote cements shares performance and allegations and accusations decorating the company as the dispute over Obuh mines in Okpella, Edo state lingers.

Talks of a possible shaken investors’ confidence have started erupting.

But keen followers of Dangote Cement’s performance insist the company has survived a worse similar moment.

It shares were said to have plunged to as low as N211 and N213 last year and it went on to record N231, N246 and N252 sales before the current situation.

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