Multimillionaire Mauritian Lagasse family gains $12.61 million from joint stake in IBL Limited

The joint equity stake of the Mauritian Lagasse family in the Mauritius-based diversified conglomerate Ireland Blyth Limited (IBL) has increased by MUR543.25 million ($12.61 million) in 141 days on the back of a rise in its share price on the Stock Exchange of Mauritius.

IBL is a world-class diversified conglomerate based in Mauritius. The group has over 200 brands and operates one of the largest businesses on the island with an operational footprint in more than 19 countries through its subsidiaries in the commerce, engineering, financial services, logistics, aviation and shipping, retail, seafood and marine sectors.

Buying pressures spiked by investors’ interest in the group have seen the market value of its shares surge by 11-percent in 141 days.

As of press time, 3:30 PM (UTC), July 22, shares in the Mauritius-based conglomerate were trading at MUR48.25 ($1.1360) per unit, which is 1.7-percent higher than its opening price of MUR47.45 ($1.1171) for the year.

Its share price has increased from MUR43.50 ($1.0241) per share on March 3 to MUR48.25 ($1.1360) on July 22. This translates to a gain of 11 percent for shareholders.

Aside from acting as directors in the group, family members Arnaud Lagesse, Benoit Lagesse, Hugues Lagesse, Jean-Pierre Lagesse, Thierry Lagesse and Stephane Lagesse hold a joint ownership stake of 16.81 percent in IBL.

Since March 3, the market value of their joint stake of 114,369,469 ordinary shares has increased from MUR4.98 billion ($117.13 million) to MUR5.52 billion ($129.92 million) on July 22.

Their joint stake in the Mauritius-based group has thus accrued a total gain of MUR543.25 million ($12.79 million) in 141 days.

The Lagasse family has played a crucial role in developing industry and commerce in the Mauritian economy. The family also takes credit for leading top companies such as My Leisure Group and IBL Group.

Omokolade Ajayi
Omokolade Ajayi
Omokolade Ajayi is a financial reporter at Billionaires.Africa. Previously, he worked as a journalist at Nairametrics. Omokolade is a seasoned financial analyst and reporter with in-depth knowledge of and expertise in equity markets, and financial and economic analysis. He has a degree in economics and is a certificate holder of the CFA Institute’s Investment Foundation Program.

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