ARM Cement shares plunge into bond payment report :: Kenya

ARM Cement shares fell from the daily maximum limit of 10% Tuesday after a newspaper reported that it had missed a payment of $ 50,000. bond interest.

A local business newspaper reported that ARM, last month, had not paid bondholders' interest on a bond issued in 2015.

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ARM CEO Pradeep Paunrana told Reuters he was traveling and he would comment on the report at 15:30.

Its shares traded at Sh3.25, down 9.72% from Monday's closing of Sh3.60, according to Reuters data.

Stocks are down nearly 97% from their historic peak of 98.00 shillings each in early 2014, with problems in Tanzania fueling the collapse of its market share in Kenya by more than 20% at 10% currently.

The shares were the most traded on the Nairobi Stock Exchange during Monday's session, when they closed 7% after the media reported that the company's auditor had reported a debt of 21 billion shillings. Subscribe to the standard group SMS service by sending a text message to & # 39; NEWS & # 39; 22840.