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Lamia Tazi, a leading Moroccan tycoon and CEO of Marocaine Ste de Therapeutique (Sothema), has witnessed a significant decline in the market value of her stake in Sothema, due to the downturn in the share price of the healthcare group on the Casablanca bourse.
According to data tracked by Billionaire.Africa, the market value of her stake in Sothema has slumped by MAD36.3 million ($3.61 million) in the past 9 days to MAD586.88 million ($58.34 million), propelled by recent selling pressures on the Casablanca bourse.
Sothema shares plunge 5.8 percent
Sothema is Morocco’s leading healthcare group, 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.
In recent times, the company’s share price has plunged by 5.8 percent since March 28, falling to MAD970 ($96.42) from MAD 1,030 ($102.38), causing the group’s market cap to slump below $700 million, resulting in significant losses for shareholders, including Lamia Tazi.
Tazi, CEO, and chairperson of Sothema, owns a significant 8.4-percent stake in the prominent healthcare company, equivalent to 605,030 issued shares. This has solidified her position as one of the most affluent investors on the Casablanca Stock Exchange.
Tazi’s Sothema stake slumps below $60 million
Due to the single-digit percentage slump in the group’s share price, the market value of Tazi’s stake has declined by MAD36.3 million ($3.61 million) over the past nine days, falling from MAD623.18 million ($61.95 million) on March 28 to MAD586.88 million ($58.34 million).
Despite the recent decline in her fortune, the Moroccan executive remains among the affluent investors on the Casablanca bourse. She also ranks 52nd on the Forbes 2024 list of the 100 Most Powerful Businesswomen in the Middle East.
