Egyptian businessman Safwan Thabet has become part of the exclusive group of top investors on the Egyptian Stock Exchange, boasting a portfolio exceeding $200 million in publicly listed companies.
Thabet’s shares in Juhayna Food Industries, constituting the lion’s share of his wealth, have surged by $67.67 million since the start of the year. This surge has propelled the value of his shares in the Egyptian food manufacturing giant to almost $215 million.
Juhayna is a family-owned business that produces, processes, and packages dairy, juice, and cooking products. The company operates in five business segments in the food-processing and agro-allied industries.
Thabet, a leading Egyptian businessman who founded Juhayna over three decades ago, owns a majority stake of 50.07 percent, which amounts to 19,024,134 ordinary shares in the company through Pharon Investments Limited.Â
Since the start of the year, the share price of Juhayna Food Industries on the Egyptian Stock Exchange has experienced a remarkable surge of 45.99 percent, soaring from EGP9.59 ($0.3104) on Jan. 1 to EGP14 ($0.4531) on Aug. 8.
The recent surge in Juhayna Food’s shares has resulted in the market value of Thabet’s stake in the company climbing to EGP6.64 billion ($214.84 million), further strengthening his position as one of the richest investors on the Egyptian Stock Exchange equity market.
With an impressive year-to-date bump of EGP2.09 billion ($67.67 million), Thabet’s stake in Juhayna Foods has surged from EGP4.55 billion ($147.16 million) at the beginning of the year to an astounding EGP6.64 billion ($214.84 million) as of the time of reporting.
This impressive gain underscores the resounding success of Juhayna Food Industries as well as the positive sentiment surrounding the company’s performance in the market, as it is fast becoming attractive to Investors.
On June 26, Baladna, a leading Qatari firm, acquired 600,000 units of Juhayna shares in a deal valued at EGP7.4 million ($239,000). This purchase follows a trend set over the preceding two years, during which Baladna has consistently expanded its stake in Juhayna.
The latest transaction positions Baladna as the second-largest shareholder in the Egyptian company, holding more than 15 percent of its shares, trailing only Thabet.
