The share price of Bua Cement has increased following a slash in its ex-factory cement price from N5,000 to N,3500.
The share price of the cement company soared by 12.55% over the past week to an all-time high of N105.80 as of October 13, 2023.
According to Nairametrics, the price increase last week boosted the yearly gains of the company’s share price, showing sustained positive sentiment among investors.
The company’s share price has spiked by 202 per cent since it was listed at N35 per share three years ago. The company has maintained compound earnings and an annual growth rate of 25% in the last five years.
On October 3, 2023, BUA Cement announced an unbelievable price cut leading to speculations that competitors such as Dangote Cement and WAPCO-Lafarge would follow suit soon.
Industry analysts said the move by BuaCement is aimed at stimulating competition in an industry enjoying a near-monopoly by Dangote Cement and Large.
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