BDC loses P300m as Sechaba stock crashes

In the 12 months to June 2017, Sechaba Breweries, which was 26% owned by BDC before selling down to 24%, saw its share price on the BSE tumble 31% from P29 per share to about P20 per share.

At the beginning of the financial year, BDC’s 26% shareholding in Sechaba translated to 34.58 million shares valued at P1.01 billion. But at the end of the financial year after the 31% drop in the share price, the value of the investment in Sechaba had dropped to P691 million, representing a fall in value of over P300 million.