Moroccan tycoon Adil Douiri gains $2.4 million as Mutandis shares soar

Moroccan multimillionaire businessman Adil Douiri has seen the market value of his Mutandis SCA stake increase by over $2 million in almost 28 weeks as shares in his company surge by double-digits percent on the Casablanca bourse.

Data gathered by Billionaires.Africa revealed that Douiri’s stake in Mutandis SCA has increased by MAD 22.27 million ($2.36 million) since March 13 as investors on the local bourse continue to increase their stakes in the Casablanca-based group.

Mutandis is a packaged food manufacturer and a consumer goods industry leader in the country, with active activities and investments in four business categories, including detergents, seafood, drinks, and fruit juice sales.

Under the leadership of Douri, a leading politician and businessman who founded Mutandis in 2008 and owns a 6.88-percent stake, which translates to 636,176 ordinary shares in the consumer goods firm.

In the past 191 days, shares in the consumer goods company on the Casablanca Stock Exchange have surged by 16.91 percent, climbing from MAD207 ($20.971) on March 13 to MAD242 ($24.618) at the time of writing, thus leading to gains amounting to millions of dollars for its shareholders, including the affluent Douiri.

As a result of the double-digit percent bump in the group’s share price, the market value of the stake held by businessman, Douiri has increased by MAD 22.27 million ($2.36 million) in almost 28 weeks, climbing from MAD 131.69 million ($12.68 million) on March 13 to MAD 153.95 million ($15.04 million) at the time of writing.

With this recent bump in the market value of his stake, Adouiri cements his position as one of the richest investors in the Casablanca stock exchange and one of the country’s most affluent businessmen.