Dangote’s Cement Shares Drop As Mines Dispute Rage

Dangote’s Cement Shares Drop As Mines Dispute Rage
Value of Dangote Cement shares is falling
The value of it’s shares has fallen from N251 per share from Saturday December 16 2017 to N223 per share as at Thursday January 4 2018.
The lost is estimated to be in region of Nbillions of naira.
Checks revealed Dangote cement has an authorised shares of 20,000,000,000.
At press time, the outstanding stands at 17,040,507,405.
The loss accumulating from the fall in price from N233 from Dec 16 is said to be hurting.
‘’mega loss..deeply hurting’’ a source stated.
Interestingly, this development comes at a period the cement company is engaged in a 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 rage.
Talks of a possible shaken investors confidence have started erupting.
But keen followers of Dangote Cement’s performance insist the company has survived worse.
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.