The Mauritian Espitalier-Noel family has seen the market value of their stake in ENL Limited slump by more than $9 million since the start of the year due to a significant decline in the shares of the leading conglomerate on the Stock Exchange of Mauritius.
Data gathered by Billionaires.Africa revealed that the Espitalier-Noel family’s stake in ENL Limited has decreased by MUR 420.36 million ($9.18 million) since Jan. 1 as investors on the local bourse continue to reduce their stakes in the Mauritius-based group.
ENL is a diverse company with more than 120 worldwide and domestic companies in the agro-allied, real estate, hospitality, logistics, fintech, commerce, and industrial sectors.
The affluent Espitalier-Noel family controls the Mauritius-based group, with members of the family serving as executives on the board. The multimillionaire family owns a 9.92-percent beneficial stake in ENL, translating to 105,884,604 ordinary shares in the group.
Since the start of the year, ENL shares on the Stock Exchange of Mauritius have slumped by 16.5 percent, declining from MUR23.97 ($0.529) on Jan. 1 to MUR20.00 ($0.441) on Aug. 10, thus leading to significant losses amounting to millions of dollars for its shareholders, including the affluent Espitalier-Noel family.
As a result of the double-digit percent slump in the group’s share price, the market value of the stake held by the affluent Mauritian Espitalier-Noel family has slumped by MUR418.24 million ($9.24 million) since the start of the year, falling from MUR2.54 billion ($56 million) on Jan. 1 to MUR2.1 billion ($46.78 million) at the time of writing.
Despite the recent decline in the market value of their stake, the family remains one of the richest investors on the Stock Exchange of Mauritius. With their stake in the group now worth more than $45 million, the affluent Mauritian Espitalier-Noel family ranks among the richest families in Mauritius.
