Dangote Cement Loses N1.55T in 2-Day as Investors Exit Position

Dangote Cement Loses N1.55T in 2-Day as Investors Exit Position

Dangote Cement Plc lost an additional 10% of its market value on the Nigerian Exchange (NGX) as sell pressures persisted in the local bourse. In two days, the cement company has lost about N1.55 trillion due to sell pressures.

Data from the local bourse showed that the cement stock fell again as investors’ trimmed shareholdings for second consecutive days in the equities market. After two days of sell pressure, investors priced Dangote Cement Plc.’s 17.040 billion shares outstanding at N6.610 trillion.

NGX data showed that Dangote Cement share price declined to N387.9 as 987,118 shares exchanged hands in the equities market on Wednesday. The stock opened trading session at N431 in the local bourse, having lost 10% in the previous day from N478.8 at the beginning of the week.

Dangote Cement Plc has lost more than N1.548 trillion in two days. At its latest share price, Dangote Cement Plc is trading at a more than 49% discount to its 52-week high in the stock market. #Dangote Cement Loses N1.55trn in 2-Day as Investors Exit Positions FBN Holdings Records Huge Off-Market Shares Transactions