Egyptian multimillionaire businesswoman Hend El-Sherbini has seen the market value of her stake in Integrated Diagnostics Holdings (IDH), a leading diagnostic service provider, slump by more than $25 million in recent times.
Data gathered by Billionaires.Africa revealed that El-Sherbini’s stake in IDH has decreased by EGP790.71 million ($25.64 million) since Aug. 8 as investors on the Egyptian Exchange continue to reduce their stakes in the consumer healthcare holding company.
IDH is one of the Middle East and Africa’s leading consumer healthcare groups, with more than 1,400 international-standard diagnostic tests; it operates through a branch network of 483 labs in four countries, making it Egypt’s largest diagnostic service provider.
El-Sherbini, a prominent Egyptian businesswoman who was instrumental in the growth and transformation of IDH, owns a significant 25.5-percent stake in the Egyptian consumer healthcare group, which translates to 152,982,356 ordinary shares.
IDH shares on the Egyptian Stock Exchange have slumped by 26.67 percent, declining from EGP18.50 ($0.60) on Aug. 8 to EGP13.57 ($0.44) at the time of writing, thus leading to losses amounting to millions of dollars for its shareholders, including the affluent businesswoman, El-Sherbini.
As a result of the double-digit percent slump in the renowned healthcare services provider’s share price, the market value of her stake has slumped by EGP 790.71 million ($25.64 million) in 32 days falling from EGP 2.97 billion ($96.15 million) on Aug. 8 to EGP 2.17 billion ($70.51 million) at the time of writing.
Despite these setbacks, El-Sherbini remains one of Egypt’s richest businesswomen on and one of the top investors on the Egyptian Stock Exchange.
