The South African multimillionaire Mouton family has lost R273.06 million ($18.84 million) in 54 days through their stake in PSG Group Limited, as shares in the leading investment holding retreat from their all-time high price.
Reacting to news that the holding brought in R30.1 billion in profit at the end of its 2021 accounting year, shares in the holding rose to an all-time high of R81.93 on June 17.
As investors booked profit from their equity positions in the holding, a sell-off in its shares on the Johannesburg Stock Exchange led PSG’s shares to lose nearly eight percent of their value since June 17.
The eight-percent price decline triggered a near $20-million loss for the family in a matter of 54 days.
PSG Group is a South Africa-based investment holding, with underlying investments in banking, education, financial services and consumer goods.
The holding was founded by Chris Adriaan Otto and Johannes Fredericus Mouton on Nov. 25, 1995.
It has stakes in Capitec, South Africa’s largest lender by number of customers. The company recently sold its stake in Pioneer Foods, one of South Africa’s largest food and beverage producers and distributors, to PepsiCo, the second-largest food and beverage company globally.
Through the JF Mouton Familie trust, Moutons controls a 20.1-percent equity stake in PSG Group.
As of press time, 9:20 AM (UTC), Aug. 10, shares in the holding were trading at R75.47, 7.9-percent lower than its record high price of R81.93 on June 17.
The market value of the family’s 42,269,481 ordinary shares has dropped by about R273.06 million ($18.84 million) in the past 54 days.
Research conducted by Billionaires.Africa revealed that the market value of Mouton’s stake in PSG declined from R3.46 billion ($238.95 million) on June 17 to R3.19 billion ($220.11 million) as of press time, 9:20 AM (UTC), Aug. 10.
According to data retrieved from Google Finance, PSG shares have returned gains of 2,815 percent for shareholders since 2000.
It has also amassed a multimillion-dollar fortune for the family since 1995 when it was founded.
The holding’s market capitalization in 1996 was R56 million ($17 million). As of the drafting of this report, its market capitalization was R15.86 billion ($1.09 billion).
