Business
SAP Shares Slide to Lowest Since 2024 Amid AI Concerns
SAP shares fell to their lowest since August 2024, pressured by AI-driven investor concerns, wiping $130B off market value amid global software selloff
Frankfurt Shares in Germany’s SAP SE extended a months-long downtrend on Wednesday falling to their lowest level since August 2024 and erasing roughly $130 billion from the company’s market value compared with last year’s peak.
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The stock declined 2.4% by 1334 GMT to €233 billion ($273 billion), down from a record high of €344 billion in February 2025.
Analysts attribute the selloff to investor apprehension over the impact of artificial intelligence on SAP’s services business, particularly the potential erosion of billable hours and module pricing.
“Some of the concerns in the market are justified, not about the company’s existential future, but about the value of its services,” said Angelo Meda, portfolio manager at Banor SIM.
He added that SAP must accelerate its transition to cloud-based offerings.
SAP’s cloud revenue forecasts have already shown signs of pressure.
In October 2025, the company projected full-year cloud revenue at the lower end of its guidance, though operating profit was expected near the upper end.
The firm is scheduled to release its latest earnings next week.
Investor sentiment across software stocks has weakened sharply.
Jefferies analyst Brent Thill said software sentiment “has rarely been lower,” with SAP’s valuation approaching historical trough levels.
Frankfurt traders noted that many clients are positioning ahead of the upcoming results, while technical indicators suggest potential further downside.
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The broader sector trend mirrors pressure in the United States, where the S&P 500 software index has fallen 7.2% in 2026, reflecting heightened uncertainty over AI-driven disruption and the evolving software market landscape.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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