Home » Wealthy Ben Yedder family of Tunisia gains over $3.6 million from stake in Ennakl Automobiles

Wealthy Ben Yedder family of Tunisia gains over $3.6 million from stake in Ennakl Automobiles

by Omokolade Ajayi

The influential Ben Yedder family has seen the market value of their stake in the Tunisia-based automobile retailer, Ennakl Automobiles, increase by TND10.4 million ($3.6 million) in the past 67 days.

Ennakl is a Tunisia-based automobile retailer engaged in the retail sale of cars under the Volkswagen, Audi, Seat and Porsche brands. Run by Chairman Abdellatif Hmam, Ennakl is also engaged in the importation and distribution of auto parts through its subsidiary, Car Gros.

The automobile retailer is majority-owned by the Ben Yedder family, which controls 15,993,246 issued shares in the company.

In the past 67 days, the $3.6-million value bump in their shareholding can be linked to a single-digit surge in the automobile retailer’s stock price, as investors maintained buying interest in the company.

As of press time, Ennakl shares were trading at TND12.3 ($4.27), unchanged from their opening price this morning, as both bearish and bullish pressures balanced out.

On the back of sustained buying activities by value-seeking investors, the company’s share price has risen from TND11.65 ($4.04) on Oct. 14 to TND12.3 ($4.27) as of the time of the drafting of this report. This translates to a 5.6-percent gain for shareholders.

Research conducted by Billionaires.Africa revealed that the market value of the family’s stake in Ennakl has grown from TND186.3 million ($64.6 million) 67 days ago to TND196.7 million ($68.2 million), accruing total gains of TND10.4 million ($3.6 million) for the family.

Aside from their stake in Ennakl Automobiles, the Ben Yedder family holds a substantial interest in Amen Bank, a private-sector bank based in Tunisia.

The family is represented by Amel Ben Yedder, Nabil Ben Yedder, Karim Ben Yedder, Wassim Ben Yedder, Hakim Ben Yedder, Halim Ben Yedder and Rasheed Ben Yedder.

In the first nine months of 2021, Ennakl reported a 49.3-percent hike in its revenue from TND288 million ($102.4 million) in 2020 to TND429.91 million ($152.9 million).

The revenue growth indicates a significant improvement in sales despite the impact of the COVID-19 pandemic on its operating environment, as the company was able to sell 6,393 vehicles in the first nine months of 2021, up 58.3 percent from the 4,039 units that it sold last year.

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