Quinton van Rooyen, the well-known Namibian businessman and CEO of Trustco Group Holdings, has seen the market value of his interest in the investment holding company Trustco plummet. The approximately $10 million drop can be linked to a dramatic drop in the conglomerate’s share price since October 30.
Van Rooyen’s Trustco share has dropped by $9.77 million in nine days, reflecting the ongoing trend of local bourse investors selling their stakes in the investment holding firm.
Trustco, a diversified investment holding company principally owned and managed by the van Rooyen family of Namibia, has long been known for its investments in premium assets in the financial services and resources sectors. These investments have consistently resulted in long-term, sustainable growth for stakeholders.
Quinton van Rooyen is one of Namibia’s wealthiest people, with a 63.94 percent ownership in the company, which corresponds to 1,004,000,060 ordinary shares.
Trustco’s shares have recently performed poorly, sliding 26.47 percent from $0.0368 on October 30 to $0.0270 at the time of this publication. This fall has resulted in significant financial losses for shareholders, including a well-known Namibian businessman.
This rapid reduction has caused a $9.77 million drop in the market value of Quinton van Rooyen’s stock in the last nine days. His investment, which was worth $36.89 million on October 30, has now dropped to $27.13 million.