Key Points:
- Anas Sefrioui’s stake in property firm ADH has dropped $46.68 million in a week due to a falling share price.
- The Casablanca developer’s stock is down 5.7%, pushing its market cap below $1.25 billion.
- Despite the recent decline, ADH is still a top performer on the Casablanca exchange, with shares up 107% year-to-date.
Moroccan billionaire Anas Sefrioui, the controlling shareholder of the Casablanca-based property developer Douja Promotion Groupe Addoha (ADH), has experienced a significant decline in the value of his stake due to a recent drop in the company’s share price.
According to data tracked by Billionaires.Africa, Sefrioui’s stake in ADH has tumbled below $800 million, following a MAD464.52 million ($46.68 million) decline over the past eight days, amidst recent fluctuations in the group’s share price on the Casablanca bourse.
ADH stock down 5.71 percent
ADH is a prominent player in Morocco’s real estate sector, boasting a diversified portfolio across the country. The company specializes in low-cost housing projects spread across key urban centers like Casablanca, Ain Aouda, El Jadida, and Tetouan.
Anas Sefrioui, the visionary founder of the Casablanca-based real estate group and one of the wealthiest businessmen in the MENA region, holds a 64.1 percent stake in ADH, amounting to 258,066,665 ordinary shares.
In the past eight days, the company’s shares have dropped by 5.71 percent, falling from MAD 31.50 ($3.1654) on June 3 to MAD 29.70 ($2.985) at the time of writing. This decline has pushed the company’s market capitalization down below $1.25 billion.
Continued financial setbacks for Anas Sefrioui
As a result of the recent decline in ADH shares, the market value of Sefrioui’s stake in the company has dropped by MAD464.52 million ($46.68 million) over the past eight days, falling from MAD 8.13 billion ($816.84 million) on June 3 to MAD 7.67 billion ($770.16 million) at the time of writing.
This recent setback adds to Anas Sefrioui’s previous losses, with his stake in ADH decreasing by $30 million between May 21 and 27. During this period, the market value of Sefrioui’s stake fell from MAD7.94 billion ($798.4 million) to MAD7.64 billion ($764.7 million).
Despite recent financial setbacks, Anas Sefrioui remains a prominent investor on the Casablanca Stock Exchange and among Morocco’s wealthiest businesspeople. ADH’s strong YTD performance and significant role in the real estate sector continue to position both the group and Sefrioui at the forefront of Morocco’s economic landscape.
Your Money and Your Life
Even with a recent decline in share price and broader market volatility, ADH remains a top performer on the Casablanca bourse in terms of YTD performance. The real estate developer’s shares have gained 107.26 percent, delivering impressive returns to its investors.
Retail investors who bought shares in ADH at the start of t have seen a significant increase in their wealth. Accordingly, a $100,000 investment made in ADH at the beginning of the year would now be worth $207,260, indicating a $107,260 gain.