Tunisian business magnate Abdelwaheb Ben Ayed, renowned as one of the country’s wealthiest businessmen, has experienced a significant decrease in the market value of his stake in Poulina Group.
According to data tracked by Billionaires.Africa, Ben Ayed’s stake in Poulina has declined by TND4.21 million ($1.3 million) over the past 77 days. This extended decline reflects a trend among investors who continue to offload their stakes in the Tunis-based group.
This setback comes in the wake of a $2.6 million year-to-date loss experienced by Ben Ayed from Jan. 1 to July 30. During this period, the market value of his stake declined from TND53.73 billion ($17.44 million) to TND45.47 million ($14.76 million).
Poulina Group, a well-established Tunisian conglomerate with diverse interests in real estate, public works and infrastructure, wood, home appliances, and mass consumer products, has been grappling with the decline in its share value.
As a leading business executive who played a pivotal role in expanding Poulina Group, Abdelwaheb Ben Ayed owns a beneficial 3.4-percent stake in the Tunis-based conglomerate, making him one of the richest investors on the Tunis Stock Exchange.
Over the past 77 days, the share price of Poulina Group on the Tunis Stock Exchange has declined by 8.45 percent, falling from a price of TND7.46 ($2.347) on July 31 to TND6.83 ($2.149), thus pushing the company’s market capitalization below $400 million.
Consequently, due to this single-digit percent slump in the group’s share price, the market value of Ben Ayed’s stake in Poulina has seen a reduction of TND4.21 million ($1.3 million) over the past 77 days, dropping from TND49.82 million ($15.68 million) on July 31 to TND45.6 million ($14.35 million) at the time of writing.
