South African-born real estate mogul, Barry Stuhler has suffered a substantial decline of more than $9 million from his stake in Lighthouse Properties in just 24 days, driven by the sustained decline in the shares of the Malta-based property company.
Stuhler, who had just endured significant losses four weeks ago from his investment in the company with dual listing on both the official market of the stock exchange of Mauritius and the main board of the Johannesburg stock exchange, has now suffered significant losses amounting to millions of dollars.
Data gathered by Billionaires.Africa revealed that the stake of Stuhler in Lighthouse has decreased by R 96.71 million ($9.15 million) since July 29 as investors on the local bourse continue to reduce their stakes in the Mauritius-based company.
Lighthouse Properties, with a diversified property portfolio that includes retail assets across France, Portugal, Slovenia, Spain, and the United Kingdom, has faced a significant downturn in its share price recently as investors continue to trim down their stakes in the company.Â
Stuhler, the managing director of Capital Property Fund, who ranks as one of the high-value investors on the Johannesburg Stock Exchange, owns a 9.72-percent stake in Lighthouse Properties. His stake amounts to 172,699,222 shares.
Since July 29, shares of Lighthouse Properties on the Johannesburg Stock Exchange have declined by 14.68 percent, sliding from R6.36 ($0.3390) to R5.80 ($0.3088) on Aug. 22, owing to profit-taking activities as market participants sold off their stakes in the company to capture profits.
As a result of this double-digit slump in the share price of Lighthouse Properties, the market value of Stuhler’s stake in the company has now declined by R96.71 million ($9.15 million), from R1.098 billion ($62.31 million) to R1.001 billion ($53.16 million) at the time of writing.
Despite the recent dip in the market value of his stake, Stuhler maintains an unwavering influence as a pivotal figure among South Africa’s prominent entrepreneurs. His business acumen and visionary leadership will continue to shape the trajectory of Lighthouse Properties and solidify its position as a leading provider of direct properties.
