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Tunisian businessman and political figure Moncef Sellami has seen the market value of his investment in semiconductor supplier One Tech Group decline by nearly $3.5 million. This drop is attributed to a recent decline in the company’s share price on the Tunis Stock Exchange.
Over the past 22 days, Sellami’s stake in the Tunisia-based industrial powerhouse has fallen by TND10.78 million ($3.46 million). This decline is attributed to local investors reducing their holdings in the Tunis-based semiconductor giant. The setback follows a period of growth this year, when Sellami’s stake in OneTech surged by $2.6 million between Jan. 17 and 31.
OneTech Group’s stock price tumbles on Tunis Exchange
OneTech Group boasts a distinguished presence in the automotive, energy, and industrial sectors. With more than four decades of specialized proficiency in cable, mechatronics, and ICT, the company has flourished into a leading international entity in the printed circuit board business.
Its shares on the Tunis Stock Exchange have fallen by 6.45 percent, from TND 8.22 ($2.635) on April 22 to TND7.69 ($2.464) at the time of reporting. This decline has pushed its market capitalization below $200 million, resulting in significant financial losses for its shareholders.
Sellami’s stake shrinks, but prominence remains
OneTech’s remarkable growth over the years owes much to the visionary leadership of its founder, Sellami, who established the firm in 1978. He currently retains a significant 26.08-percent stake in the Tunis-based semiconductor supplier.
The market value of Sellami’s shares in the group has fallen from TND167.2 million ($53.6 million) on April 22 to TND156.4 million ($50.13 million) at the time of drafting this report, marking a financial setback of TND10.78 million ($3.46 million) for the influential Tunisian businessman.
Despite this setback, Sellami remains one of the wealthiest investors on the local stock exchange and maintains a prominent position among the wealthiest individuals in the country.
