Tunisian businessman and political figure, Moncef Sellami has seen the market value of his stake in the semiconductor supplier, One Tech Group, slump significantly, attributed to the recent decline in its share price on the Tunis Stock Exchange.
Sellami’s investment in the Tunisia-based industrial powerhouse has decreased by TND 12.66 million ($4.09 million). This decline is primarily a consequence of local investors scaling back their holdings in the Tunis-based semiconductor giant.
One Tech shares take a hit, shareholders lose millions of dollars
OneTech Group — a global player in the industrial sphere — boasts a distinguished presence in the automotive, energy, and industrial sectors. With more than four decades of specialized proficiency in cable, mechatronics, and ICT, the company has flourished into a leading international entity in the printed circuit board business.
OneTech’s remarkable growth over the years owes much to the visionary leadership of its founder, Sellami, who established the firm in 1978. Presently, he retains a significant 25.4-percent stake in the Tunis-based semiconductor supplier.
The company’s shares on the Tunis Stock Exchange have experienced a significant decline since the start of 2024 falling by 6.95 percent from TND 8.92 ($2.882) to TND 8.30 ($2.682) at the time of reporting, accruing substantial financial losses to its shareholders, including Sellami.
Sellami’s stake in One Tech drops below $55 million
According to the data tracked by Billionaires.Africa, the market value of Sellami’s shares in the group has dropped from TND182.16 million ($58.86 million) on Jan. 1 to TND 169.50 million ($54.77 million) at the time of this report — this substantial decline translates to a financial setback of TND12.66 million ($4.09 million) for the prominent Tunisian businessman.
Despite the recent financial decline, Sellami remains one of the wealthiest investors on the local stock exchange and continues to hold a prominent position as one of the wealthiest individuals in the country.