Corona Virus: Dangote Looses billions in few hours

Aliko Dangote, according to the information reaching us has lost a truckload of money due to the Coronavirus issues in the country which was reported a few days ago.

Moments after the World Health Organisation tagged coronavirus a pandemic (spreading fast around the continent at the same time), Dangote Cement Plc which is Nigeria’s most capitalized quoted company and is responsible for more than 20 percent of the total market capitalization, led the decline with the maximum daily allowable drop of 10 percent or N17, which is equivalent to net depreciation of N289.68 billion.

Dangote Sugar Refinery (DSR) Plc and NASCON Allied Industries Plc lost N1.8 billion and N3.05 billion. Dangote Cement’s share price dropped by N17 from N170 to close at N153. NASCON Allied Industries declined by N1.15 to close at N3.05 while DSR lost 15 kobos to close at N9.75 per share.

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