Key Points:
- Anas Sefrioui’s stake in Morocco’s top developer ADH fell $30 million due to a recent stock price decline.
- The company’s stock price dropped 3.8% last week, pushing its market cap below $1.2 billion.
- Despite the setback, Sefrioui remains a major investor and ADH is up over 100% year-to-date.
Moroccan billionaire Anas Sefrioui, the controlling shareholder of Morocco’s leading property developer Douja Promotion Addoha (ADH), has seen his wealth dip following a recent decline in the company’s stock price.
According to data from Billionaires.Africa, Sefrioui’s stake in ADH has fallen by MAD304.52 million ($30.61 million) over the past six days. This reversal comes after a period of growth, where Sefrioui’s stake increased by $29.9 million between May 9 and 20, rising from MAD7.9 billion ($794.7 million) to MAD8.19 billion ($824.56 million).
ADH stock slips, Moroccan billionaire Anas Sefrioui’s stake hit
ADH, Morocco’s top real estate player specializing in low-cost housing, has witnessed a 3.83 percent share price decline in the last week. The stock dropped from MAD30.78 ($3.09) on May 21 to MAD29.6 ($2.97) at the time of drafting this report. This decline pushed the company’s market capitalization below the $1.2 billion mark, impacting shareholders like Sefrioui.
Anas Sefrioui, the founder of ADH and one of Morocco’s wealthiest individuals, holds a significant 64.1 percent stake in the company, translating to 258,066,665 shares. Due to the recent share price slump, the market value of his stake has fallen from MAD7.94 billion ($798.4 million) on May 21 to MAD7.64 billion ($764.7 million).
Your Money and Your Life
Despite this setback, Anas Sefrioui remains a major investor on the Casablanca bourse and a prominent Moroccan businessman, demonstrating his ability to weather market fluctuations.Â
While Sefrioui’s fortune has dipped by over $30 million in recent weeks, it’s important to note that ADH remains a strong performer year-to-date.
The company’s share price has surged by more than 106.56 percent, meaning a $100,000 investment at the beginning of the year would now be worth $206,560, reflecting a significant profit of $106,560.
