Table of Contents
Key Points
- Ahmed El-Sewedy's stake in Elsewedy Electric rises to $873 million, driven by growing investor interest and stock price gains.
- El-Sewedy’s stake has increased by $67.61 million in just three weeks, reflecting strong stock performance.
- Elsewedy Electric's market capitalization hits $3.4 billion, supported by an 8.38% rise in stock price since January 15.
Egyptian businessman Ahmed El-Sewedy, the CEO of Elsewedy Electric, has seen his stake in the multinational electrical company soar above $870 million, thanks to growing investor interest that has sparked a notable rise in the company’s stock price on the Egyptian Exchange (EGX).
El-Sewedy, who owns a 25.52 percent stake—equivalent to 546,252,820 shares—has watched the value of his holdings increase by EGP3.4 billion ($67.61 million) in just the past three weeks, fueled by a sharp uptick in stock prices. This recent surge adds to an impressive $304 million gain in 2024, with his stake's value rising from $512.89 million in January to $815.34 million by the end of the year.
Elsewedy Electric market capitalization $3.4 billion
Founded in 1938 by the El-Sewedy family, Elsewedy Electric has cemented its position as a leader in Egypt and the MENA region’s electrical sector. The company specializes in manufacturing cables, transformers, energy meters, and wind energy solutions that support energy infrastructure across the region.
In the past 22 days, the company's stock price has risen by 8.38 percent, climbing from EGP74.30 ($1.48) on Jan. 15 to EGP80.53 ($1.58). This rise has boosted Elsewedy Electric’s market capitalization to over $3.4 billion, providing solid returns for its investors and underscoring its position as a leading player in the electrical industry.
Elsewedy’s stake grows to $873.98 million
As of Jan. 15, El-Sewedy’s stake was valued at EGP40.59 billion ($806.62 million). Since then, it has grown to EGP43.99 billion ($873.98 million), further solidifying his status as one of Egypt's most influential business figures.
Elsewedy Electric is advancing its expansion plans with a strong focus on renewable energy, where the company is leading the way in innovation. This growth is set to deliver returns for shareholders and further solidify its role as a key player in the MENA region.
