South African media tycoon Terrence Moolman has experienced a notable decrease in the market value of his holdings in Caxton & CTP Publishers Limited over the past 72 days amid a recent downturn in the shares of the leading publisher of books, newspapers, and magazines on the Johannesburg Stock Exchange (JSE).
Caxton’s market cap dips below $200 million
Moolman’s stake in Caxton & CTP Publishers has seen a decline of R146.85 million ($7.66 million) over the last 72 days, signaling waning investor interest in Caxton on the JSE.
The publisher, founded in 1980 by Moolman and Noel Coburn, boasts a wide array of publications, including 88 newspapers and 15 magazines, and specializes in various printing and packaging solutions.
Shares of Caxton on the JSE have dropped by 7.93 percent in recent times, falling from R10.84 ($0.565) on Feb. 6 to R 9.98 ($0.521), causing the group’s market capitalization to dip below $200 million.
Moolman’s Caxton stake value dips
As the CEO and co-founder of Caxton & CTP Publishers Ltd., Moolman holds a significant 47.22-percent stake, making him the largest shareholder in the company and solidifying his status as one of the wealthiest investors on the JSE.Â
With the recent plunge in the publisher’s share price, the market value of Moolman’s stake has slumped by R146.85 million ($7.66 million), declining from R1.85 billion ($96.5 million) on Feb. 6 to R1.70 billion ($88.88 million) at the time of reporting.
Despite the market challenges, Moolman continues to play a pivotal role in various sectors within the publishing industry in Southern Africa. His visionary leadership as Caxton’s CEO continues to shape the country’s publishing and print landscape. As the largest shareholder in Caxton & CTP Publishers, his influence remains significant.
