Lamia Tazi, the prominent Moroccan pharmaceutical tycoon and CEO of Marocaine Ste de Therapeutique (Sothema), has witnessed a substantial increase in the market value of her stake in the healthcare group, attributed to the recent surge in its shares on the Casablanca bourse.
The Moroccan executive, who ranks as one of the region’s wealthiest businesswomen, has experienced a remarkable increase of MAD59.89 million ($6.00 million) in the market value of her stake in Sothema in the last 15 days – as investors increased their stakes in the group.
Sothema shares surge by more than 10 percent, market cap surpasses $750 million
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 the beginning of the year, the share price of the leading healthcare company on the Casablanca bourse has risen by 10.41 percent, climbing from MAD951 ($95.381) on Jan.1 to MAD1,050.00 ($105.310) at the time of writing this report.
This recent surge has propelled the company’s market capitalization above $750 million and returned impressive gains to its shareholders, including Lamia Tazi, who holds a significant portion of the group.
Tazi’s stake in Sothema skyrockets above $60 million
Tazi, the chairperson and CEO of Sothema, who also ranks as one of the wealthiest investors on the Casablanca bourse owns a significant 8.4-percent stake in the leading healthcare company, equivalent to 605,030 issued shares.
According to data tracked by Billionaires.Africa, the market value of Tazi’s shares over the past 15 days has surged by MAD59.89 million ($6 million), rising from MAD575 million ($57.70 million) on Jan. 1 to MAD635.28 million ($63.71 million) at the time of drafting this report.
The recent increase in the market value of her stake in Sothema, amounting to $6 million, solidifies her position among the richest investors on the Casablanca bourse.