South African businessman Giovanni Ravazzotti, founder and chairman of Italtile Limited, has seen the value of his stake climb back above 400 million following a steady rise in the companys share price on the Johannesburg Stock Exchange. The upswing offers a degree of relief after a difficult period marked by sharp declines earlier this year.
Ravazzotti, who built Italtile from a single store into one of South Africas largest home-improvement groups, holds a controlling 56.46 percent share in the businessabout 746.2 million shares. Over the past six days, the value of his holdings has increased by R408.36 million 21.20 million, easing some of the pressure caused by recent losses.
Recovery after weeks of losses