South African property developer Stephen Brookes, founder and chief executive of Balwin Properties, has seen the value of his stake in the Johannesburg-listed company rise by more than 10 million following a steady climb in its share price over recent months.
Brookes stake in Balwin surges 10.4 million
Brookes, who owns a 33.07 percent controlling stake in the companyequal to about 171.7 million ordinary shareshas watched the market value of his holdings grow by R182.06 million 10.44 million in the past six months. His total stake is now worth an estimated 27.38 million, based on data from the Johannesburg Stock Exchange JSE.