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South African multimillionaire executive Michael Guy Attridge (Gus Attridge) has seen a notable surge in the market value of his investment in Aspen Pharmacare, a prominent pharmaceutical company listed on the Johannesburg Stock Exchange (JSE).
The share price of Aspen Pharmacare over the past ten days has experienced a single-digit percentage increase, resulting in substantial gains for Gus Attridge. His stake in the pharmaceutical giant has seen a remarkable surge of R222.32 million ($12 million).
This recent uptick in Attridge’s wealth follows previous gains recorded between March 25 and April 17, during which his Aspen stake soared by R151.05 million ($7.95 million), climbing from R4.09 billion ($215.25 million) to R4.24 billion ($223.20 million).
Aspen tops $5.4 billion market cap
Aspen Pharmacare, co-founded 25 years ago by Attridge and leading pharma tycoon Stephen Saad, has become the largest pharmaceutical company in Africa through aggressive mergers and expansion efforts.
With major manufacturing sites across the globe, including South Africa, Germany, France, and the Netherlands, Aspen has cemented its dominance in the pharmaceutical industry.
The recent surge in Aspen shares on the JSE, rising by 5.46 percent from R213.74 ($11.550) on April 23 to R225.42 ($12.182), has pushed its market capitalization above $5.4 billion at the time of drafting this report, offering substantial returns to its investors.
Aspen shares boost Attridge stake above $230 million
Gus Attridge, Aspen’s group chief advisor, and a JSE heavyweight, holds a 4.3-percent stake in the pharmaceutical company, amounting to 19,033,829 ordinary shares.
According to data tracked by Billionaires.Africa, the recent uptick in Aspen shares has bolstered the market value of Attridge’s stake by R222.32 million ($12 million), from R4.07 billion ($219.65 million) on Apr. 23 to R4.29 billion ($231.65 million).
The rise not only cements Attridge’s position as a successful South African business leader and prominent JSE investor but also highlights his growing position as a significant player in the global pharmaceutical industry.
