Adil Douiri, a Moroccan multimillionaire businessman, has watched the market value of his holding in Mutandis SCA increase by about $1.3 million during the last 33 days, as the company’s shares on the Casablanca exchange rose by more than 8%.
Data from Billionaires.Africa shows that Douiri’s interest in Mutandis SCA has increased by MAD12.72 million ($1.27 million) since the beginning of 2024, as investors raise their stake in the Casablanca-based firm.
Mutandis is a packaged food company and the country’s consumer products industry leader, with active investments in four business categories: detergents, seafood, beverages, and fruit juice sales.
Douiri, a prominent politician and businessman who established Mutandis in 2008, owns a 6.9 percent ownership in the Casablanca-based consumer goods company. His investment is equivalent to 638,024 ordinary shares in the packaged food producer.
Mutandis shares have risen by 8% in 33 days, from MAD250 ($24.91) on Jan. 1 to MAD270 ($26.9) at the time of writing. This has resulted in millions of dollars in gains for shareholders.
The market value of Douiri’s stake in Mutandis has risen from MAD159.04 million ($15.84 million) on January 1 to MAD171.77 million ($17.11 million) at the time of writing.
Adouiri’s recent increase in stake value solidifies his status as a wealthy investor and businessman in Morocco.