Egyptian businessman Safwan Thabet, a leading figure in the Middle East and North Africas consumer goods sector, has seen the market value of his stake in Juhayna Food Industries drop sharply as the companys shares continue to fall on the Egyptian Exchange.
Over the past 16 days, Thabets 50.1 percent holding, managed through his private firm Pharon Investments Limited, has lost 71 million in value. This follows modest gains earlier in the year, thus highlighting how quickly investor sentiment can shift in the stock market.
Earlier gains give way to fresh losses