Aspen’s 20-percent stock decline costs South African tycoon Stephen Saad nearly $160 million
Saad's wealth drops by nearly $160 million after Aspen Pharmacare's shares tumble 20.17 percent over the past 25 days on the JSE.
Saad's wealth drops by nearly $160 million after Aspen Pharmacare's shares tumble 20.17 percent over the past 25 days on the JSE.
This follows a gain of $32.2 million recorded between April 23 and May 1, when his stake increased from $654.18 million to $686.41 million.
This increase underscores Saad’s significant influence in South Africa’s business landscape, elevating him among the top investors on the JSE.
This rise in Saad’s stake underscores his pivotal role in South Africa’s business landscape, placing him among the top investors on the JSE.
Aspen anticipates a robust second half of 2024, supported by the launch of sterile manufacturing contracts and continued growth in its active pharmaceutical ingredients (API) business.
This increase cements Saad’s position in the South African business scene, placing him among the leading investors on the JSE.
According to data compiled by Billionaires.Africa, the market value of Saad’s stake in Aspen has increased by $52.4 million to $623.6 million.
Despite the recent stock dip, Saad remains a prominent investor on the Johannesburg Stock Exchange and maintains his status as one of South Africa’s leading businessmen.
Discover how Saad’s audacious $100M deal is revolutionizing Aspen Pharmacare.
Beyond Aspen Pharmacare, Saad’s influence extends to a diverse array of companies, each representing a facet of his entrepreneurial prowess.
South African billionaire and pharmaceutical tycoon, Stephen Saad’s stake in Durban-based pharmaceutical company Aspen Pharmacare Holdings has declined by more than $28…
Saad, who founded Aspen in 1997, owns a 12.5-percent stake, or 57,151,972 ordinary shares, in the branded pharmaceutical holding company.