Egyptian billionaire Yasseen Mansour, chairman of Palm Hills Developments, has seen the value of his stake in the real estate company fall by $6.55 million. The decline comes as Palm Hills shares have faced selling pressure on the Egyptian Exchange over the past two weeks.
Share decline hits Yasseen Mansour’s Palm Hills stake
Mansour holds a 10.83 percent stake in Palm Hills, equivalent to roughly 318.57 million shares. Over 42 trading sessions, the value of his holdings fell from EGP2.58 billion ($53.5 million) to EGP2.26 billion ($46.96 million), marking a significant loss following previous declines.
Earlier this year, Yasseen Mansour’s stake recorded a $10 million drop between July 9 and Aug. 20, falling from EGP3.06 billion ($62.89 million) to EGP2.57 billion ($52.89 million), reflecting ongoing pressure on Palm Hills shares and investors’ cautious sentiment toward the stock.
Egyptian billionaire Yasseen Mansour, chairman of Palm Hills Developments, has seen the value of his stake in the real estate company fall by $6.55 million. The decline comes as Palm Hills shares have faced selling pressure on the Egyptian Exchange over the past two weeks.
Share decline hits Yasseen Mansour’s Palm Hills stake
Mansour holds a 10.83 percent stake in Palm Hills, equivalent to roughly 318.57 million shares. Over 42 trading sessions, the value of his holdings fell from EGP2.58 billion ($53.5 million) to EGP2.26 billion ($46.96 million), marking a significant loss following previous declines.
Earlier this year, Yasseen Mansour’s stake recorded a $10 million drop between July 9 and Aug. 20, falling from EGP3.06 billion ($62.89 million) to EGP2.57 billion ($52.89 million), reflecting ongoing pressure on Palm Hills shares and investors’ cautious sentiment toward the stock.
