Moroccan businessman and venture capitalist Adil Douiri has recorded a MAD9.77-million ($1.05 million) gain in his stake in the leading consumer goods group, Mutandis SCA, in the past 44 days.
Mutandis is a leader in the packaged foods industry in Morocco, with active operations and investments in four business segments in the consumer goods industry, including detergents, seafood, beverages and fruit juice sales.
Douiri, who founded Mutandis in 2008, controls a beneficial 6.88-percent stake, or 550,176 ordinary shares, in the Morocco-based consumer goods group.
As of press time, Jan. 19, shares in the group on the Casablanca bourse were worth MAD255 ($27.48) per share, unchanged from their opening price on the local bourse this week.
At the current price, Douiri’s stake is worth MAD140.3 million ($15.12 million), while the market capitalization of his consumer goods group is valued at MAD2.04 billion ($219.7 million).
The recent surge in the value of his stake above the $15-million mark can be linked to the single-digit surge in Mutandis’s share price.
Since Dec. 6, 2021, shares in the group have risen by more than 7.4 percent from a price of MAD237.25 ($25.57) on the local bourse to MAD255 ($27.48) thanks to a sustained buying interest in Mutandis stock.
As a result of the 7.4-percent price bump, Douri’s stake saw a MAD9.77-million ($1.05 million) surge in value.
Research conducted by Billionaires.Africa revealed that the market value of his stake in the group increased from MAD130.53 million ($14.07 million) to MAD140.3 million ($15.12 million) between Dec. 6, 2021 and Jan. 19.
The recent increase in his stake cements his status as one of the wealthiest investors on the Casablanca bourse.