The value of Paunrana family’s wealth in cement maker ARM #ticker:ARM dropped by Sh17.8 billion in three years as the company battled the challenges of debt-fueled growth and a persistent pricing war arising from the entry of multiple players in the market.
ARM’s stock yesterday touched a new low of Sh12.7 at the Nairobi Securities Exchange (NSE), taking the market value of the Paunranas’ wealth down to Sh2.7 billion from Sh20.6 billion in August 2014 when it touched a high of Sh91.
