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Anas Sefrioui, a Moroccan businessman and majority shareholder of Casablanca-based property developer, Douja Promotion Groupe Addoha (ADH), has recorded a notable decline in his fortune, mirroring the latest slump in the shares of the leading property developer.
According to data tracked by Billionaires.Africa, the market value of Sefrioui’s stake in ADH has decreased by MAD418.07 million ($41.19 million) over the past 9 days, as investors on the local bourse reduce their stake in the Casablanca-based group.
ADH shares dip 9.82 percent on Casablanca bourse, impacting Anas Sefrioui and other shareholders
ADH stands as Morocco’s leading property developer and operator — boasting widespread real estate endeavors across the North African nation. The real estate group develops low-cost housing with properties located in towns and cities, including Casablanca, Ain Aouda, Al Jadida, Tetouan, Beni Mellal, Marrakech, Fes, Sale, Tanger, Tamesna, and Rabat, among others.
ADH’s share price on the Casablanca bourse has slumped 9.82 percent in recent times, from MAD16.5 ($1.626) on Nov. 30 to MAD14.88 ($1.466) at the time of writing — accruing significant losses to its shareholders, including Sefrioui a leading investor on the Casablanca bourse.
Anas Sefrioui’s ADH stake slumps, market value declines below $380 million
Sefrioui, the visionary founder of the Casablanca-based real estate group who ranks as one of Morocco’s most affluent individuals, owns a 64.1-percent stake in ADH, totaling a significant 258,066,665 shares.
As a result of the single-digit slump in the company’s shares, the market value of Sefrioui’s stake in ADH has declined by MAD418.07 million ($41.19 million), from MAD4.26 billion ($419.50 million) on Nov.30 to MAD3.84 billion ($378.31 million) at the time of writing.
Despite the sustained decline in the market value of his stake, Sefrioui remains one of the richest investors on the Casablanca bourse and one of the country’s richest businessmen. Furthermore, his stake in the Casablanca-based property developer makes him one of the wealthiest individuals on the African continent.
