Home » Hyundai South Africa CEO Niall Lynch’s stake in Motus Holdings gains $29.3 million

Hyundai South Africa CEO Niall Lynch’s stake in Motus Holdings gains $29.3 million

by Editorial Team

The shares of Hyundai Automotive South Africa CEO Niall Lynch in Motus Holdings has increased by $29.3 million since the start of the year.

Motus Holdings is South Africa’s exclusive importer and distributor of Hyundai, Kia, Renault and Mitsubishi automobiles, panels and parts.

The sustained upward trend in the shares of South Africa’s leading automotive group has translated into 71-percent gains for the company’s shareholders in six months.

At press time, 12:40pm (WAT) on June 10, Motus’ shares had risen by 0.01 percent today to $6.99 (R95.51) per share.

The company’s market capitalization amounted to $1.3 billion (R17.79 billion).

The current market price of its shares at $6.99 (R95.51) per unit is 70.55-percent higher than on Jan. 4 when they sold for $4.10 (R56).

These impressive gains in the company’s shares on the Johannesburg Stock Exchange can be attributed to expectations that the automotive industry will recover fast after the COVID-19 pandemic, which interrupted component supplies.

Motus Holdings revealed that it expects headline earnings per share to be more than $1 for the year through June 30, compared with $0.0296 last year when it traded through the pandemic. It mentioned this in a recent disclosure.

The company hinted that economic and trading conditions continue to be weak in all of the countries in which it operates. However, there have been improvements recently, which supports critical assumptions in its earnings forecast.

In reaction to the forecast, the company’s shares jumped as investors and traders acquired additional stakes in the company.

Lynch took over the CEO role at Hyundai Automotive South Africa in 2016. He is a director at Motus Holdings and a leading shareholder in the company.

His 7,886,000.00 units of issued shares have surged by 71 percent this year alongside the increase in the Motus share price. Lynch’s shares in Motus Holdings have increased in value from $32.33 million (R441.6 million) to $55.15 million (R753.19 million) between Jan. 4 and June 10.

This translates to a market-value gain of $22.8 million (R311.6 million) in 157 days.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.