Moroccan multimillionaire businessman Adil Douiri has seen a substantial increase in the market value of his stake in Mutandis SCA over the past 31 weeks, as the company’s shares increase by double-digit percent on the Casablanca bourse.
According to data tracked by Billionaires.Africa, the market value of Douiri’s stake in Mutandis SCA has increased by MAD30.63 million ($2.97 million) since March 13, as investors continue to bolster their holdings in the Casablanca-based group.
Mutandis is a packaged food manufacturer and a consumer goods industry leader in the country, with active investments in four business categories, including detergents, seafood, drinks, and fruit juice sales.
Douiri, a leading politician and businessman who founded Mutandis in 2008, owns a 6.9-percent stake in the Casablanca-based consumer goods firm. His stake translates to 638,024 ordinary shares in the packaged food manufacturer.
In the past 31 weeks, Mutandis shares have experienced a remarkable surge of 23.19 percent, rising from MAD207 ($20.084) on March 13 to MAD255 ($24.742) at the time of writing this report, thus leading to gains amounting to millions of dollars for its shareholders.
As a result of the recent surge in the group’s share price, which has propelled its market capitalization on the Casablanca bourse beyond the $220 million mark, the market value of Douiri’s stake in the company has increased from MAD132.1 million ($12.81 million) on March 13 to MAD162.70 million ($15.78 million) at the time of drafting this report.
This surge signifies a remarkable total gain of MAD30.63 million ($2.97 million) for the Moroccan multimillionaire businessman. The impressive growth of Douiri’s stake in Mutandis SCA underscores investors’ confidence in the Moroccan consumer goods company.