
Yasseen Mansour gains $5 million from Palm Hills stake
In just 26 days, his stake increased by $5 million, driven by a 12.56 percent jump in share price.
In just 26 days, his stake increased by $5 million, driven by a 12.56 percent jump in share price.
The Cairo-based developer said it has repurchased 42.7 million shares, about 2 percent of its total share capital, through open-market transactions.
The setback comes on the heels of a more positive period earlier this year, when his stake grew by $54.87 million.
The Egyptian billionaire’s stake could have grown by as much as $41.9 million if not for the devaluation of the Egyptian pound against the U.S. dollar.
This decline reversed a $17.05 million gain for the Khamis family between October 9 and 15.
Despite the recent decline in the market value of his stake, Berzi remains one of the richest investors on the Egyptian Exchange.
Despite this significant downturn, Ezz remains a top figure in Egypt’s business landscape.
His stake, which translates to a total of 329,816,198 shares in the steel giant, has solidified his position among the richest investors on the Egyptian Exchange.
This upswing solidifies their position as one of Egypt’s wealthiest families and prominent investors on the Egyptian Exchange.
Mansour owns a sizable 5.6-percent stake in the Cairo-based real estate firm.