The equity stake of Mauritian multimillionaire Arnaud Dalais in CIEL Limited has increased by $4.11 million (MUR167.98 million) since March 1.
The gains in his stake were triggered by a recent surge in the company’s shares. The sustained buying interest in the company continues to drive its share price on the Mauritius Stock Exchange.
According to data retrieved from the local bourse at press time 3:45 pm (UTC+1) today, the company’s shares were trading at $0.13 (MUR5.18). This puts the year-till-date gains at 37.04 percent.
CIEL Limited is a diversified international Mauritian group investing and operating in emerging markets.
It operates five business clusters in Mauritius, Africa and Asia, including CIEL Agro and Property, CIEL Finance, CIEL Hotels and Resorts, CIEL Textile and CIEL Healthcare.
In the first nine months of its 2020 financial year, CIEL suffered a 27.1-percent decrease in revenue to $327.9 million (MUR13.4 billion) compared to the corresponding period in 2019. The drop was due to a low level of activity in its hotels and resorts cluster.
While its other clusters posted a profit in the period, the hotels and resorts segment’s underperformance led the company to post losses of $18.8 million (MUR768 million).
Despite its bland financial performance, CIEL Limited has seen its shares rise impressively this year, returning impressive gains for shareholders.
The company’s share price on the Mauritius Stock Exchange increased from $0.096 (MUR3.94) on March 1 to $0.127 (MUR5.18) as of the drafting of this report today.
Dalais, who has been the head of 13 companies and currently sits on the board of CIEL Limited as chairman, is one of the company’s leading shareholders.
The market value of the multimillionaire’s equity stake of 135,464,460 issued shares has increased from $13.06 million (MUR533.73 million) on March 1 to $17.17 million (MUR701.71 million) as of press time today. This increase translates to a gain of $4.11 million (MUR168 million) for Dalais through his stake in the CIEL Limited.
