Lamia Tazi, the well-known Moroccan pharmaceutical tycoon and CEO of Marocaine Ste de Therapeutique (Sothema), has seen a significant gain in the market value of her stake in the healthcare firm, thanks to the recent surge in its shares on the Casablanca bourse.
The Moroccan entrepreneur, one of the region’s wealthiest businesswomen, has seen the market value of her Sothema holding rise by MAD59.89 million ($6.00 million) in the last 15 days, after investors boosted their stakes in the organization.
Sothema is Morocco’s largest healthcare corporation, generating over 60 million units of pharmaceuticals each year and managing a diverse portfolio of 35 global laboratories that manufacture and export items to Europe, the Maghreb, Sub-Saharan Africa, and the Persian Gulf.
The share price of the biggest healthcare business on the Casablanca market has climbed by 10.41 percent year to date, from MAD951 ($95.381) on January 1 to MAD1,050.00 ($105.310) at the time of writing.
This latest spike has pushed the company’s market valuation past $750 million, resulting in spectacular returns for its owners, notably Lamia Tazi, who owns a sizable chunk of the company.
Tazi, Sothema’s chairman and CEO and one of the wealthiest investors on the Casablanca exchange, owns a large 8.4 percent stake in the premier healthcare company, which equates to 605,030 issued shares.
Tazi’s market value has increased by MAD59.89 million ($6 million) in the last 15 days, from MAD575 million ($57.70 million) on January 1 to MAD635.28 million ($63.71 million) at the time of writing, as tracked by Billionaires.Africa.
The recent $6 million gain in the market value of her Sothema share strengthens her status as one of the biggest investors on the Casablanca exchange.