Table of Contents
Key Points
- Hisham Talaat Moustafa’s stake rises $54.87 million as the real estate giant’s market cap surpasses $2.1 billion.
- The Egyptian billionaire’s 43.5% stake in TMG sees a sharp rebound, reflecting strong investor interest.
- Shares climb to EGP53.88 ($1.0639), delivering solid returns for investors amid a short-term market upswing.
Egyptian businessman Hisham Talaat Moustafa, chairman of Talaat Moustafa Group (TMG), has seen the value of his stake in the real estate giant rise by $54 million in just 16 days, as the company’s shares gained ground on the Egyptian Exchange (EGX).
Moustafa’s TMG stake rebounds after drop
Moustafa, who owns a 43.5 percent stake in TMG—equivalent to 890.57 million shares—has benefited from the recent rebound in the company’s stock price. The surge has added EGP2.78 billion ($54.87 million) to his holdings, bringing their total market value to $947.49 million.
The recovery comes after a sharp decline between Jan. 1 and Feb. 7, when the market value of his stake fell by EGP2.84 billion ($56.48 million), dropping from EGP49.87 billion ($991.46 million) to EGP47.03 billion ($934.98 million).
TMG shares gain 6.15 percent, market cap tops $2.1 billion
TMG, founded by Hisham Talaat Moustafa in 1974, has grown into Egypt’s largest real estate holding company. Under Moustafa’s leadership, the company has strengthened its position as a major player in the industry and remains one of the most valuable stocks on the EGX.
Over the past 16 days, TMG’s share price has climbed 6.15 percent, rising from EGP50.76 ($1.0023) on Feb. 25 to EGP53.88 ($1.0639). This gain has propelled the company’s market capitalization above $2.1 billion, rewarding investors with solid returns.
Moustafa’s TMG stake gains $54.87 million
Hisham Talaat Moustafa’s stake in TMG has climbed in value following a recent rally in the company’s shares. His holdings have risen from EGP45.21 billion ($892.62 million) on Feb. 25 to EGP47.98 billion ($947.49 million), adding EGP2.78 billion ($54.87 million) in just 16 days.
Despite the recent rebound, TMG shares are still down 3.79 percent since the start of the year, reflecting ongoing challenges in the real estate sector. An investor who put $100,000 into TMG at the beginning of the year would now have $96,210, marking a $3,790 loss.
