Egyptian Ghabbour family’s stake in GB Corp rebounds above $350 million
The Ghabbour family’s GB Corp stake rebounds above $350 million as shares rally 17% on the Egyptian Exchange, restoring investor confidence in Egypt’s leading automaker.
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The Ghabbour family’s GB Corp stake rebounds above $350 million as shares rally 17% on the Egyptian Exchange, restoring investor confidence in Egypt’s leading automaker.
The Ghabbour family’s stake in GB Corp. has lost over $46 million in value after a sharp drop on the Egyptian Exchange.
GB Corp invests $6 million to produce Hyundai cars in Egypt, boosting its role in the $6.15 billion automotive market.
The Ghabbour family holds a 63.4 percent controlling stake in GB Corp., equivalent to 688.2 million shares.
Despite the recent downturn, the Ghabbour family remains one of the richest investors on the Egyptian stock exchange.
GB Auto is a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour.
The Ghabbour family is well-known in the Egyptian business community.
The Ghabbour family’s 62.9-percent stake in GB Auto is worth nearly $125 million.