Tunisian tycoon Abdelwaheb Ben Ayed gains $2.9 million from Poulina stake

Tunisian businessman Abdelwaheb Ben Ayed, renowned as one of the country’s wealthiest businessmen, has experienced a remarkable increase in the market value of his stake in Poulina Group, thanks to the recent uptick in the group’s stock price on the Tunis Stock Exchange.

Over the past 27 days, Ayed recorded a substantial boost in his holdings, amounting to TND9.06 million ($2.89 million), driven by the notable rise in Poulina’s shares. This surge comes on the heels of a previous period of growth during which Ayed’s stake in Poulina increased by $1.73 million between Nov. 24 and Dec. 18 of the preceding year.

Poulina’s stock skyrockets by 21 percent

Poulina Group, a well-established Tunisian conglomerate, has diversified interests spanning real estate, public works, infrastructure, wood, home appliances, and mass consumer products.

Abdelwahab Ben Ayed, a leading business executive who played a pivotal role in Poulina Group’s expansion, holds a beneficial 3.4-percent stake in the Tunis-based company. This stake solidifies his position as one of the wealthiest investors on the Tunis Stock Exchange.

Poulina Group’s share price has surged 21 percent, rising from TND7.00 ($2.234) on March 6 to TND8.47 ($2.703). This increase has driven the company’s market capitalization above $480 million, translating into significant gains for shareholders, including Ben Ayed.

Ben Ayed’s Poulina stake nears $17 million

As a result of the recent increase in the group’s share price, the market value of Ben Ayed’s stake in Poulina has risen by TND 9 million ($2.87 million) over the past 27 days, climbing from TND 42.84 million ($13.69 million) on March 6 to TND 51.84 million ($16.57 million).

The $2.87-million surge in the market value of his holding solidifies Ben Ayed’s status as one of the wealthiest investors on the Tunis Stock Exchange.