Moroccan businessman Anas Sefrioui, who holds the majority stake in Casablanca’s Douja Promotion Groupe Addoha (ADH), experienced a notable decrease in his wealth. His stake in the property development company fell by $26 million due to the recent decline in share price.
According to data tracked by Billionaires.Africa a decrease of MAD260.65 million ($25.88 million) in the market value of Sefrioui’s stake in ADH over the past 28 days, as investors on the local stock exchange increased their holdings in the Casablanca-based company.
ADH shares drop six percent on Casablanca bourse, market cap falls under $635 million
Morocco’s top property developer and operator, ADH, has a broad presence in real estate throughout the country. Specializing in low-cost housing, the company has properties in various towns and cities such as Casablanca, Ain Aouda, Al Jadida, Tetouan, Beni Mellal, Marrakech, Fes, Sale, Tanger, Tamesna, and Rabat
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.
On the Casablanca stock exchange, ADH’s share price has recently dropped by 5.98 percent, falling from MAD16.89 ($1.677) on Jan. 19 to MAD15.88 ($1.577) as of this report. This decline has led to a market capitalization below $635 million, resulting in significant losses for shareholders, including Sefrioui, a prominent investor on the Casablanca bourse.
ADH stake of Anas Sefrioui plunges, market value dips below $410 million
With this single-digit slump in the company’s shares, the market value of Sefrioui’s stake in ADH has slumped by MAD260.65 million ($25.88 million), declining from MAD4.36 billion ($433.88 million) on Jan.19 to MAD4.098 billion ($407 million) at the time of writing.
Despite the 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, showcasing resilience amid market fluctuations.
