Egypt: Hisham Talaat Moustafa’s TMG Stake Rebounds, Surpassing $1 Billion

Egyptian billionaire Hisham Talaat Moustafa, chairman of Talaat Moustafa Group Holding (TMG), has seen his share in TMG Holding rise significantly, topping $1 billion following a recent comeback on the Egyptian Exchange (EGX).

Moustafa’s share in TMG Holding has climbed by EGP4.5 billion ($94.27 million) in the last 11 days, reaching EGP48.85 billion ($1.02 billion). In late May and early June, his investment decreased by EGP5.33 billion ($113.1 million).

TMG Holding, a pioneer in Egypt’s real estate business since 1974, has grown to become one of the country’s top developers. This growth is attributed to imaginative leadership.

TMG Holding’s stock has surged by 10.14 percent in the last eleven days alone. The price increased from EGP49.8 ($1.044) to EGP54.85 ($1.15), bringing the company’s market capitalization above $2.3 billion. This increase has resulted in huge benefits for shareholders amid a larger revival in Egypt’s financial markets.

Hisham Moustafa, one of Egypt’s wealthiest individuals and top investors on the Egyptian Exchange, owns 43.16 percent of TMG. His position in the leading group of 890,633,483 shares is now worth more than a billion dollars thanks to the recent increase in share price.

Moustafa’s interest has increased in value by EGP4.50 billion ($94.27 million) since June 9, from EGP44.35 billion ($929.62 million) to EGP48.85 billion ($1.02 billion), owing to a recent double-digit share price increase.

The recent increase in TMG Holding’s fortunes highlights the company’s strong performance in comparison to its Egyptian market peers. The company’s year-to-date gains in local currency have risen by an amazing 128.64%.

Despite the Egyptian pound’s decline, investors have earned a total return of 48.08 percent in 2024, resulting in significant gains. A $100,000 investment made at the start of 2024 is now worth $148,080, reflecting a profit of $48,080.

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