Business
Dangote, shareholders lose over N200bn
This week hasn’t been good for shareholders of Dangote Cement, as the company has been in a losing phase, while trading on the manufacturer’s stock has been low, with investors appetite elsewhere.
Analysis of the company’s stock performance showed volume of shares traded within the last four days has dropped after Dangote Cement’s stock price rose to N215 per share last week Friday.
As trading on the company’s stock fell to 193.07 million shares from 417.08 million, the stock price followed the same path, as investors are pricing Dangote Cement’s stock low.
The stock traded flat at a price of N215 per share for two days, from Monday to Tuesday, before dropping to N214 per share on Wednesday, then depreciated further after losing N4 to end trading at N210 per share.
Read also: Tax holiday over, as Dangote cement income tax increases by 47.3%
This affected Dangote Cement’s market capitalisation which declined from the N3.7 trillion valuation it started this week with, to N3.5 trillion market worth on Thursday.
The low trading activities on the company’s stock and low pricing by investors pushed the capitalisation down, and cost shareholders over N200 billion in the space of four days.
The loss recorded by the shareholders occured at a period the Nigerian stock market is experiencing a bearish run which has crashed the total market capitalisation to N20.03 trillion on Thursday, from N20.83 trillion it reported at the start of the month.
By Fakoyejo Ayodeji…
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...