Egyptian tycoon Ahmed El-Sewedy, CEO of Elsewedy Electric, has seen the value of his stake in the multinational electrical company drop by more than 65 million in just nine days. This decline follows an earlier surge this month when his stake surged above 900 million.
El-Sewedy owns 546.2 million shares, representing a 25.52 percent stake in Elsewedy Electric. The market value of his stake fell from EGP43.86 billion 902.73 million on Aug. 17 to EGP40.7 billion 837.64 million at the time of this report, a decrease of 65.09 million.
Elsewedy Electric shares fall amid market caution