South African multimillionaire businessman Christopher Seabrooke has experienced a significant decline in the market value of his stake in Sabvest Capital, a Sandton-based investment holding.
According to data tracked by Billionaires.Africa, Seabrooke, who serves as the CEO of Sabvest Capital, has witnessed a decrease of R72 million ($3.8 million) in the market value of his stake in the past 58 days. The decline is attributed to the latest plunge in the shares of the investment holding company.
Sabvest Capital, headquartered in Sandton, is an investment holding company operating in various investment activities, including finance advances and holding listed debt, equity, and cash portfolios. It holds substantial interests in nine unlisted companies and long-term direct and indirect holdings in six listed firms, equity funds, and offshore bond portfolios.
Seabrooke, a leading business executive who has played a vital role in Sabvest Capital’s growth, holds a 40.61-percent stake in the investment holding company. This stake cements his position as the largest shareholder in the South African investment holding company.
In recent times, the share price of Sabvest Capital has declined by 6.08 percent in the past 58 days, falling from R73.99 ($3.897) on July 20 to R69.49 ($3.660) at the time of writing, thus pushing the company’s market capitalization below $150 million.
This downturn has resulted in considerable losses for its shareholders, including prominent figures like South African furniture tycoon Ellerine and Seabrooke.
As a result of the recent downturn in the company’s shares, Seabrooke’s stake in Sabvest Capital has declined by R72 million ($3.8 million) in the past 58 days, from R1.18 billion ($62.36 million) on July 20 to R1.11 billion ($58.56 million) at the time of writing.