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South African businessman Giovanni Ravazzotti, founder and chairman of Italtile Limited, has seen the value of his stake climb back above $400 million following a steady rise in the company’s share price on the Johannesburg Stock Exchange. The upswing offers a degree of relief after a difficult period marked by sharp declines earlier this year.
Ravazzotti, who built Italtile from a single store into one of South Africa’s largest home-improvement groups, holds a controlling 56.46 percent share in the business—about 746.2 million shares. Over the past six days, the value of his holdings has increased by R408.36 million ($21.20 million), easing some of the pressure caused by recent losses.
Recovery after weeks of losses
The rebound comes after a rough spell between Sept. 9 and 19, when Italtile stock slipped and wiped out about $67.5 million from the value of Ravazzotti’s stake. During that period, his holdings fell from R8.28 billion ($477.5 million) to R7.11 billion ($410 million), reflecting weaker sentiment in the broader retail and building-materials sector.
Founded by Ravazzotti in 1969, Italtile has long been a familiar name among South African homeowners and builders, Its portfolio includes retail brands such as Italtile Retail, CTM, TopT and U-Light, which have remained resilient even as consumer spending tightened this year.
Share price rebound lifts investor sentiment
Since Nov. 14, the company’s stock has gained 5.47 percent, rising from R8.95 ($0.5188) to R9.44 ($0.5472). That improvement has lifted Italtile’s market capitalization to roughly $720 million, signaling renewed confidence among investors after months of volatility.
The share rebound has pushed Ravazzotti’s stake to R7.05 billion ($408.36 million), up from R6.68 billion ($387.16 million) earlier this month. For supporters of the company, the increase underscores his long-term commitment and continued influence in the sector.
Italtile’s stock is down 33.24 percent for the year, turning a $100,000 investment on Jan. 1 into about $66,760. Still, with a solid JSE presence and stabilizing home-improvement demand, some investors see the worst as behind it.
