Mauritian businessman Arnauld Dalais has recorded a gain of MUR235.7 million ($5.5 million) in the market value of his stake in CIEL Limited since the start of the year.
The gains in his stake follow a double-digit surge in the shares of the Mauritius-based group on the Stock Exchange of Mauritius.
Data retrieved by Billionaires.Africa revealed that the stock price of the investment group has now increased by 46 percent since the beginning of 2021, as investors sustain buying interest despite the loss that it recorded in its recent financial statement.
CIEL is a Mauritius-based diversified investment group with investments and active operations in five business clusters in Mauritius, Africa and Asia.
The group operates through its subsidiaries CIEL Agro and Property, CIEL Finance, CIEL Hotels and Resorts, CIEL Textile and CIEL Healthcare.
Dalais, who has led 13 companies, is the chairman of the group’s board. He holds a beneficial stake of 135,464,460 ordinary shares in the investment holding.
In the nine-month period of its current financial year, the group reported a loss of MUR767.6 million ($18.0 million) on the back of a 27.1-percent drop in revenue due to poor activity in its hotels and resorts cluster.
The group’s earnings power was also impacted by the loss that it incurred from its discontinued Maldives subsidiary.
As of press time, 11:50 AM (UTC), Sept. 15, shares in CIEL were trading at MUR5.52 ($0.1295), 46-percent higher than its opening price of MUR3.78 ($0.0888) on Jan. 4, 254 days ago.
The market value of Dalais’ stake has increased from MUR512.1 million ($12 million) at the start of this year to MUR747.8 million ($17.5 million) at the time of writing.
This translates to a gain of MUR235.7 million ($5.5 million) for the Mauritian businessman since the start of 2021.
