ARM Cement's shares plunge on bond payment report

ARM Cement Ltd Managing Director Pradeep Paunrana during an interview with the Standard team at his Nairobi office. Photo by WILLIS AWANDU/STANDARD

Shares of ARM Cement dropped by the maximum daily limit of 10 percent on Tuesday after a newspaper reported that it had missed a bond interest payment.

A local business newspaper reported that ARM last month failed to pay bondholders interest on a bond it issued in 2015.