Key Points:
- Alami Lazraq, founder of Alliances Group, sees his stake in ADI rise by $7.4 million amid sustained investor interest.
- ADI’s market cap surpasses $540 million as its shares climb 3.13% on the Casablanca bourse over 22 days.
- Lazraq’s stake in ADI increases to $281.8 million, bolstered by a 113.85% year-to-date share gain, boosting investor wealth significantly.
Moroccan real estate magnate Alami Lazraq, founder of Alliances Group, has experienced a significant increase in the market value of his stake in Alliances Développement Immobilier (ADI), thanks to sustained investor interest on the Casablanca bourse.
According to data tracked by Billionaires.Africa, Lazraq’s stake in ADI has grown by MAD74.2 million ($7.4 million) over the past twenty-four days. This rise is attributed to renewed investor interest, reflected in the company’s rising share price.
This follows a previous gain of $10.83 million, which saw his stake increase from MAD2.74 billion ($275.6 million) to MAD2.85 billion ($286.43 million) between May 24 and June 1.
ADI market cap surpasses $540 million
ADI, a leading real estate developer, is part of the Alliances Group, a major Moroccan conglomerate established by Lazraq 25 years ago. The group is a significant player in the North African real estate market, boasting a diversified portfolio across the region.
Over the past twenty-two days, ADI’s shares on the Casablanca bourse have risen by 3.13 percent, climbing from MAD239.5 ($24) on June 5 to MAD246 ($24.7). This increase has propelled the company’s market capitalization above $540 million, delivering substantial returns to shareholders.
Alami Lazraq’s stake climbs
Alami Lazraq, one of Morocco’s wealthiest individuals and a prominent investor on the Casablanca bourse, holds a 51.7 percent majority stake in the publicly traded company, amounting to 11,410,669 shares.
The single-digit percent uptick in the group’s share price has caused the market value of Lazraq’s stake in ADI to increase by MAD74.2 million ($7.4 million) over the past 24 days. His stake surged from MAD2.73 billion ($274.3 million) on June 5 to MAD2.81 billion ($281.8 million), reaffirming his status as one of Morocco’s wealthiest individuals.
Your Money and Your Life
ADI is among the companies whose shares have delivered impressive gains to investors since the start of the year.
Shareholders holding ADI shares have witnessed a remarkable 113.85 percent year-to-date increase on the Casablanca bourse, significantly boosting their wealth.
A $100,000 investment at the beginning of the year would now be valued at $213,850, resulting in a profit of $113,850.
