Namibian tycoon Quinton van Rooyen gains $23.8 million in one week as Trustco shares rebound

Namibian businessman Quinton van Rooyen and entities linked to him have seen the market value of his stake in the Namibian investment holding company, Trustco Group Holdings, increase by NAD381.5 million ($23.8 million) in the past one week.

Trustco is a diversified investment holding majority owned and operated by the Namibian van Rooyen family.

The holding company invests in high-quality world-class assets in the financial services and resources industries to create long-term sustainable growth for stakeholders.

Van Rooyen, the group’s CEO, holds a majority 63.94-percent stake in the leading Namibian company. His stake in the group amounts to a total of 1,004,000,060 ordinary shares.

The multimillion-dollar gain in his stake in the past week can be linked to a strong rebound in Trustco shares, as value-seeking investors pick up stakes in the investment holding in expectation of improved financial performance and long-term value gain.

As of press time, Nov. 30, shares in the group were trading at NAD1.79 ($0.1122), 272-basis points lower than their opening price this morning.

Since Nov. 24, nearly one week ago, the market price of Trustco shares has increased by 27 percent from NAD1.41 ($0.0884) per share to NAD1.79 ($0.1122) per share as of the time of writing. This translates to a 27-percent gain for shareholders in just six days.

As a result of the surge in the share price, the market value of van Rooyen’s stake has increased from NAD1.42 billion ($88.42 million) to NAD1.8 billion ($112.24 million), accruing total gains of NAD381.52 million ($23.83 million) for the multimillionaire businessman.

Despite the recent gain in his stake, the Namibian businessman has seen the market value of his shares in Trustco slump by more than $150 million since the start of the year, placing him among the many businessmen who have recorded staggering wealth declines so far in 2021.

Since the year began, shares in the investment holding have slumped by more than 57 percent from NAD4.2 ($0.2633) to NAD1.79 ($0.1122) as of the time of writing.