Mauritian businessman Arnaud Dalais has experienced a significant decline in the market value of his stake in conglomerate CIEL Limited, losing more than $1 million in the past 20 days as shares in the company dropped by single-digit percent.
Data tracked by Billionaires.Africa reveals that Dalais’ stake in CIEL Limited has fallen by MUR67.73 million ($1.48 million) recently, as bearish sentiments and reduced buying interest on the Mauritius bourse prompted investors to sell off shares on the stock markets.
CIEL Limited, a broad-based Mauritian conglomerate with operations and investments across 10 emerging and developing economies in Africa and Asia, has recently faced challenges leading to a decrease in its share price.
Dalais, the chairman of the conglomerate, holds an eight-percent stake in CIEL Limited, which operates through its subsidiaries, including CIEL Agro and Property, CIEL Finance, CIEL Hotels and Resorts, CIEL Textile, and CIEL Healthcare, spread across Mauritius, Africa, and Asia.
Over the past 20 days, CIEL shares on the Mauritius bourse have seen a 7.14-percent decline, going from MUR7.0 ($0.153) on July 3 to MUR6.5 ($0.142) at the time of reporting.
The drop in the group’s share price led to a reduction in the market value of Dalais’ shareholding in CIEL by MUR67.73 million ($1.48 million), shrinking his total stake from MUR948.25 million ($20.66 million) to MUR880.52 million ($19.19 million) at the time of writing.
Despite this recent setback, Dalais remains one of the most affluent CEOs in Mauritius and East Africa, thanks to his extensive investments in key enterprises.
As the market dynamics continue to evolve, stakeholders are closely watching the performance of CIEL Limited and the potential rebound of Dalais’ stake in the conglomerate.
