Home » Egyptian tycoon Hisham Talaat Moustafa gains $59 million from TMG shares

Egyptian tycoon Hisham Talaat Moustafa gains $59 million from TMG shares

by Omokolade Ajayi
Hisham Talaat Moustafa

Key Points:

  • Hisham Talaat Moustafa’s stake in TMG Holding surged $59 million in just 8 days, driven by investor interest.
  • Shares of the leading Egyptian real estate company climbed 5.39%, pushing its market cap above $2.6 billion.
  • Though Moustafa’s stake saw impressive growth, currency devaluation limits year-to-date gains for international investors.

Egyptian billionaire businessman Hisham Talaat Moustafa, chairman of Talaat Moustafa Group (TMG) Holding, has seen his wealth surge due to a significant increase in his stake in the leading real estate company.

Moustafa’s stake in TMG Holding has gained EGP2.77 billion ($59.19 million) in the past eight days, according to stock mark data. This uptick is attributed to heightened investor interest in the Cairo-based company on the Egyptian Exchange (EGX).

The recent gain follows an impressive EGP9.42 billion ($198.81 million) increase in his stake between April 28 and May 13. During this period, the market value of his shares rose from EGP45.42 billion ($958.34 million) to EGP54.85 billion ($1.16 billion).

TMG Holding: A real estate powerhouse

TMG Holding, a leading force in Egypt’s real estate sector since its founding in 1974, has grown into one of the country’s largest real estate holdings under Moustafa’s leadership.

Over the past week, TMG Holding’s shares on the EGX have climbed 5.39 percent, rising from EGP 57.66 ($1.23) on May 15 to EGP 60.77 ($1.30). This increase has propelled the company’s market capitalization above $2.6 billion, generating substantial gains for shareholders.

Egyptian tycoon Moustafa’s stake in TMG surges, boosting wealth

Moustafa ranks among the wealthiest investors on the Egyptian Exchange and one of the richest individuals in North Africa, thanks to his 43.16-percent stake in TMG, comprising 890,633,483 ordinary shares.

With the recent surge in TMG shares, the market value of Talaat Moustafa’s stake has surged by EGP2.77 billion ($59.19 million), increasing from EGP51.35 billion ($1.1 billion) on May 15 to EGP54.12 billion ($1.16 billion) at the time of drafting this report.

This significant upswing not only solidifies Moustafa’s status as one of the most influential investors on the EGX, but also elevates him to the ranks of Africa’s billionaires.

Your Money and Your Life: Local currency gains offset by devaluation

While Moustafa’s stake has seen a significant rise recently, investors in TMG shares have experienced a 56.02-percent gain in local currency terms since January 30. However, this translates to a more modest 3.03-percent gain year-to-date after factoring in the devaluation of the Egyptian pound.

A $100,000 investment in TMG since Jan. 30 would be worth $103,112 at the time of reporting, representing a gain of $3,034. Factoring in the weaker Egyptian currency, the total gain was trimmed down to 3.03 percent.

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