Tunisian business magnate Abdelwaheb Ben Ayed, renowned as one of the country’s wealthiest businessmen, has experienced a significant increase in the market value of his stake in Poulina Group after enduring several financial setbacks this year.
According to data tracked by Billionaires.Africa, Ben Ayed’s stake in Poulina has increased by TND3.2 million ($1.01 million) over the past 19 days. This upturn can be attributed to the recent rise in the share price of Poulina Group on the Tunis Stock Exchange.
Ben Ayed had encountered a challenging period marked by a $1.3-million decline in his fortune between July 31 and Oct. 16. During this period, the market value of his stake in Poulina Group dropped from TND49.82 million ($15.68 million) to TND45.6 million ($14.35 million).
Abdelwaheb Ben Ayed’s fortune surges, with Poulina shares rebounding strongly
Poulina Group, a well-established Tunisian conglomerate with diverse interests ranging from real estate and public works to 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, Ben Ayed owns a beneficial 3.4-percent stake in the Tunis-based conglomerate, solidifying his position as one of the richest investors on the Tunis Stock Exchange.
The recent surge in Poulina Group’s share price on the Tunis Stock Exchange, reflecting a 7.50-percent increase, has proven to be advantageous for shareholders, including Ben Ayed.
The share price rose from TND6.4 ($2.026) on Oct. 25 to TND6.88 ($2.178) at the time of writing.
Abdelwaheb Ben Ayed solidifies position among Tunisia’s wealthiest investors
The market value of Ben Ayed’s stake in Poulina has experienced a notable increase of TND3.20 million ($1.01 million) over the past 19 days, soaring from TND42.74 million ($13.53 million) on Oct. 25 to TND45.95 million ($14.55 million) at the time of reporting.
This uptick not only cements Abdelwaheb Ben Ayed’s status as one of the most affluent investors on the Tunis Stock Exchange but also signifies a promising reversal of fortunes for Poulina Group and its stakeholders, hinting at a potential recovery following a noteworthy downturn.
