Egyptian tycoon Hend El-Sherbini loses $12.2 million in 52 days, as shares retreat from record two-week high
Egyptian multimillionaire Hend El-Sherbini has lost $12.2 million in the past 52 days from her stake in Integrated Diagnostics Holdings Plc (IDH), as the share price of the Egypt-based consumer healthcare company retreated from a record two-year high.
This loss follows a $39.8-million increase in the market value of her stake between March 3 and July 7, as shares in the group surged by 26 percent above the $1 and $0.25 mark.
IDH is a leading consumer healthcare company in the Middle East and Africa, with operations in Egypt, Jordan, Sudan and Nigeria.
IDH offers more than 1,400 international-standard diagnostics tests. The healthcare provider is led by El-Sherbini, the daughter of Moamena Kamel.
Kamel founded IDH in 1979. Since then, the company has grown from a single lab in Egypt to a branch network of 483 labs across four countries, making it the largest diagnostic provider in Egypt.
El-Sherbini and her mother jointly hold a 25.5-percent stake in the Egypt-based consumer healthcare company through Hena Holdings.
The $12.2-million loss from her stake came off a 6.4-percent decline in its share price, as investors booked profit from their positions after shares surged by 26 percent.
Shares in the company have declined from $1.26 on July 7 to $1.18 per share as of press time on Aug. 28.
This translates to a loss of 6.35 percent for shareholders in 57 days.
The market value of El-Sherbini’s stake in the healthcare service provider has declined from $192.7 million on July 7 to $180.5 million on Aug. 28.
This translates to a gain of $12.2 million for the top executive in 52 days.
El-Sherbini has received a total dividend of $13.9 million from her stake in IDH since 2019.