South African tycoon Niall Lynch has added millions to his fortune following a strong rally in shares of Motus Holdings on the Johannesburg Stock Exchange JSE. The sustained rise in the companys stock price has boosted the market value of his stake by more than 10 million over the past seven months, pushing his holdings above 31 million.
Investor confidence lifts Motus stock
Lynch, who serves as Global CEO of aftermarket parts at Motus Holdings, holds 817,000 shares, representing about 2.68 percent of the company. His shares have gone up by, R184.49 million 10.63 million in the past seven months. This shows that investors are once again confident in the company's success and its ability to continue doing well in a tough economy.