Lamia Tazi, the prominent Moroccan pharmaceutical tycoon and CEO of Marocaine Ste de Therapeutique (Sothema), has experienced a significant increase in the market value of her stake in the healthcare group, attributed to the recent uptick in its shares on the Casablanca bourse.
According to data tracked by Billionaires.Africa, the market value of Tazi’s stake in Sothema has increased by MAD21.18 million ($2.08 million) over the past eight days. This is credited to the recent surge in the healthcare group’s shares on the Casablanca bourse.
Sothema’s shares up 3.7 percent in eight days
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.
The recent surge in Sothema’s share price on the Casablanca bourse reflects a 3.70-percent increase over the past eight days, rising from MAD945 ($92.865) on April 8 to MAD980 ($96.3304), and propelling its market capitalization closer to the $700-million mark.
Tazi’s stake surges to $58.27 million amid shares surge
Tazi, the CEO and chairperson of Sothema, who also ranks as one of the most affluent investors on the Casablanca Stock Exchange, holds a substantial 8.4-percent stake in the leading healthcare company, which corresponds to 605,030 issued shares.
With the recent upswing in Sothema’s share price, the market value of Tazi’s stake in the company has surged by MAD21.18 million ($2.08 million) in the past 8 days, rising from MAD571.75 million ($56.18 million) on April 8 to MAD 592.93 million ($58.27 million) at the time of drafting this report.
The notable increase in the market value of Tazi’s stake in Sothema solidifies her position among the richest investors on the Casablanca bourse.
