Lamia Tazi, the prominent Moroccan pharmaceutical tycoon and CEO of Marocaine Ste de Therapeutique (Sothema), has experienced a substantial decrease in the market value of her stake in the healthcare group, driven by the recent decline in the company’s shares on the Casablanca bourse.
The Moroccan executive, who ranks as one of the region’s wealthiest businesswomen, has seen the market value of her stake in Sothema slump by MAD29.04 million ($2.87 million) in the past 32 days as investors reduced their stakes in the pharma firm.
Sothema shares dip: shareholders face significant losses
Sothema is Morocco’s leading healthcare company, producing about 60 million units of drugs per year and operating a diverse portfolio of 35 multinational laboratories that produce and export goods to Europe, the Maghreb, Sub-Saharan Africa, and the Persian Gulf.
Since Oct. 23, Sothema’s share price has declined by 4.53 percent, falling from MAD1,059 ($104.725) on Oct. 23 to MAD1,011($99.978) at the time of writing, thus resulting in significant losses for the company’s shareholders, including Tazi, who holds a significant portion of the group.
Lamia Tazi’s stake in Sothema takes a $2.87-million hit, falls below $65 million
Tazi, the CEO and chairperson of Sothema and one of the most affluent investors on the Casablanca Stock Exchange, holds a substantial 8.4-percent stake in the leading healthcare company, which translates to 605,030 issued shares.
Data tracked by Billionaires.Africa revealed that the recent slump in Sothema’s shares over the past 32 days has led to a significant plunge in the market value of Tazi’s stake – from MAD640.73 million ($63.36 million) on Oct. 23 to MAD611.68 million ($60.49 million) at the time of this report.
This recent decline represents a loss of MAD29.04-million ($2.87 million) for the Moroccan wealthiest businesswoman.
