Egyptian multimillionaire businesswoman Hend El-Sherbini has seen the market value of her stake in Integrated Diagnostics Holdings (IDH), a leading diagnostic service provider, decline by more than $24 million in the last six weeks.
According to data tracked by Billionaires.Africa, the market value of El-Sherbini’s stake in Integrated Diagnostics Holdings (IDH) has slumped by EGP756.39 million ($24.48 million) in the last 28 days — due to a sustained decline in the group’s share price on the Egyptian Stock Exchange.
IDH: Pioneering healthcare excellence across the Middle East and Africa
IDH is one of the Middle East and Africa’s leading consumer healthcare groups with more than 1,400 international-standard diagnostic tests; it operates through a branch network of 483 labs in four countries, making it Egypt’s largest diagnostic service provider.
El-Sherbini, a leading Egyptian businesswoman and business executive who was instrumental in the growth and transformation of the Egyptian consumer healthcare firm, owns a significant 26.71-percent stake in the company — this translates to 160,250,305 ordinary shares.
IDH share price drops 32.65 percent, impacting Hend El-Sherbini’s holdings
However, in the past 42 days, the share price of Integrated Diagnostics Holdings on the Egyptian Stock Exchange has declined by 32.65 percent, falling from a price of EGP 15.14 ($0.4901) on October 16 to EGP 10.196 ($0.3312) at the time of writing.
As a result of the double-digit percent slump in IDH shares, the market value of El-Sherbini’s stake in IDH has shrunk by EGP756.39 million ($24.48 million) in the last 42 days, falling from EGP2.32 billion ($74.96 million) on October 16 to EGP 1.56 billion ($50.49 million) at the time of writing.
Despite these setbacks, El-Sherbini remains one of Egypt’s richest businesswomen — she also ranks as one of the top investors on the Egyptian Stock Exchange.