Table of Contents
Mauritian businessman Guillaume Dalais has seen the value of his equity stake in CIEL Group decline by MUR81.05 million ($1.89 million) in the past 27 days, as shares in the investment group plunge from a record 23-month high.
The near-$2-million loss came from a 27-day, double-digit decline in the share price of CIEL Group on the Mauritian bourse.
After shares hit a 23-month high of MUR5.80 ($0.1356) per unit on July 14, investors’ reaction to the group’s nine-month results saw shares plunge to MUR5.20 ($0.1216) per unit.
The underperformance of the group’s hotels and resorts segment led it to post losses of MUR397 million ($9.28 million) after accounting for losses from discontinued operations in the Maldives.
CIEL Group is a Mauritian international group present in more than 10 emerging markets and developing economies across Africa and Asia.
The group operates in five business clusters in Mauritius, Africa and Asia through its subsidiaries, including CIEL Agro and Property, CIEL Finance, CIEL Hotels and Resorts, CIEL Textile and CIEL Healthcare.
Dalais, the youngest director on the board of CIEL Group, has a substantial interest in the diversified investment group.
As of press time, 10:45 AM (UTC), Aug. 10, shares in the Mauritius-based diversified investment group were trading at MUR5.20 ($0.1216), 10.3-percent lower than its record high price of MUR5.80 ($0.1356).
The 27-day decline in the group’s shares from MUR5.80 ($0.1356) on July 14 to MUR5.20 ($0.1216) on Aug. 10 has led to losses for Dalais, who holds a total stake of 135,090,898 shares in the group.
Research conducted by Billionaires.Africa revealed that the market value of his stake in CIEL Group has declined from MUR783.53 million ($18.45 million) to MUR702.47 million ($16.42 million) between July 14 and Aug. 10.
This translates to a loss of MUR81.05 million ($1.89 million) for the 38-year-old director in 27 days.
