Table of Contents
Key Points
- Hisham Talaat Moustafa's stake in TMG Holdings has regained over $89 million in just 12 days, surpassing a market value of $1.3 billion.
- TMG's share price surged 7.19% since Sept. 16, boosting its market capitalization to more than $2.6 billion and delivering significant returns to shareholders.
- TMG Holdings shows a 153% year-to-date return, with a $100,000 investment now valued at $161,670, highlighting strong performance despite currency depreciation.
Egyptian billionaire Hisham Talaat Moustafa's stake in Talaat Moustafa Group Holdings (TMG) has regained momentum on the Egyptian Exchange, surpassing $1.3 billion. Moustafa, controlling 51.19 percent of TMG, has witnessed a significant EGP4.33 billion ($89.6 million) upswing in his holdings over the past 12 days.
This recovery follows a brief decline of EGP6.03 billion ($124.2 million) between July 9 and Aug. 1, when the market value of his stake dropped from EGP65.48 billion ($1.35 billion) to EGP59.45 billion ($1.22 billion).
Moustafa's TMG stake surges, recovering $89.6 million in two weeks
TMG Holdings, is a leading force in Egypt’s real estate industry, with a long history dating back to its inception in 1974. Over the years, the company has grown to become one of the largest real estate holdings in Egypt, thanks to the visionary leadership of Moustafa.
Over the past 12 days, TMG’s share price has surged by 7.19 percent, rising from EGP57 ($1.19) on Sept. 16 to EGP61.1 ($1.26). This increase has propelled the bank's market capitalization above $2.6 billion, delivering significant returns to its shareholders.
As a result of the recent surge in TMG shares, the market value of Hisham Talaat Moustafa's stake has increased from EGP60.21 billion ($1.25 billion) on Sept. 16 to EGP64.54 billion ($1.33 billion), reflecting a notable gain of EGP4.33 billion ($89.60 million) in just 12 days.
Your Money and Your Life
Talaat Moustafa Group Holdings (TMG) continues to outperform the Egyptian market, boasting an impressive 153 percent year-to-date return in local currency. Despite the Egyptian pound's depreciation, investors have enjoyed a substantial 61.67 percent total return in 2024.
A $100,000 investment in TMG Holdings at the beginning of 2024 would now be worth $161,670, representing a sizable $61,670 profit, underscoring the real estate group's robust performance on the Egyptian Exchange.
