Moroccan multimillionaire businessman Adil Douiri has seen a significant boost in the market value of his stake in Mutandis SCA, surging by nearly $1.3 million over the past 33 days, as the company’s shares on the Casablanca bourse surged by over 8 percent.
According to data tracked by Billionaires.Africa, the market value of Douiri’s stake in Mutandis SCA has increased by MAD12.72 million ($1.27 million) since the start of the year 2024 as investors continue to bolster their holdings in the Casablanca-based group.
Mutandis SCA shares rise by eight percent, returning profits to shareholders
Mutandis is a packaged food manufacturer and a consumer goods industry leader in the country, with active investments in four business categories, including detergents, seafood, drinks, and fruit juice sales.
Douiri, a leading politician and businessman who founded Mutandis in 2008 owns a 6.9-percent stake in the Casablanca-based consumer goods firm. His stake translates to 638,024 ordinary shares in the packaged food manufacturer.
In the past 33 days, Mutandis shares have experienced a remarkable surge of eight percent, rising from MAD250 ($24.91) on Jan. 1 to MAD270 ($26.9) at the time of writing this report, thus leading to gains amounting to millions of dollars for its shareholders.
Douiri’s stake in Mutandis SCA soars by nearly $1.3 million in 33 days
As a result of the recent surge in the group’s share price, which has propelled its market capitalization on the Casablanca bourse above the $245-million mark, the market value of Douiri’s stake in Mutandis has increased from MAD159.04 million ($15.84 million) on Jan. 1 to MAD171.77 million ($17.11 million) at the time of drafting this report.
With this recent bump in the market value of his stake, Adouiri has cemented his position as one of the richest investors in the Casablanca Stock Exchange and one of the country’s most affluent businessmen.
