Tunisian tycoon Abdelwaheb Ben Ayed’s net worth has dropped significantly since the beginning of the year, owing to a decrease in the market value of his stake in Poulina Group, a publicly traded Tunis-based conglomerate.
According to data tracked by Billionaires.Africa, Ben Ayed’s stake in Poulina Group has lost TND5.08 million ($1.66 million) in market value since the start of the year, owing to profit booking and portfolio rotation activities among investors on the Tunis Stock Exchange.
Poulina Group is a Tunisian conglomerate with active operations and interests in real estate, public works and infrastructure, wood, home appliances, and mass consumer products.
Ben Ayed, a Tunisian businessman who played a key role in the expansion of Poulina Group, owns a beneficial 3.4-percent stake in the conglomerate, making him one of the wealthiest investors on the Tunis Stock Exchange.
Poulina shares on the Tunis Stock Exchange have dropped from TND8.78 ($2.87) on Jan. 1 to TND7.95 ($2.59) at the time of writing this report, bringing its market capitalization below TND1.45 billion ($470 million).
As a result of the recent decline in the group’s share price, the market value of Ben Ayed’s stake has declined from TND53.73 million ($17.55 million) at the start of the year to TND48.65 million ($15.9 million) at the time of drafting this report.
As a result of the recent drop in the group’s share price, Ben Ayed’s stake’s market value has dropped from TND53.73 million ($17.55 million) at the start of the year to TND48.65 million ($15.9 million) at the time of writing this report.
This amounts to a total loss of TND5.08 million ($1.66 million) for the multimillionaire businessman.
Despite the recent decline in the market value of his stake, Abdelwaheb Ben Ayed remains one of the Tunis Stock Exchange’s wealthiest investors.
