Tunisian multi-millionaire businessman and politician Moncef Sellami has faced a significant drop in the market value of his stake in semiconductor supplier One Tech Group, attributed to the recent drop in its stock price.
Since October 6, Sellami’s stake in the Tunisian industrial player has fallen by 7.96 million TND ($2.56 million) as local investors reduced their stakes in the Tunis-based semiconductor supplier.
One Tech stock price falls, pushing market cap below $220 million
OneTech Group, a global player in the industrial field, enjoys a distinguished presence in the automotive, energy and industrial sectors. With over four decades of specialist skills in cable, mechatronics and ICT, the company has become a leading international entity in the printed circuit board sector.
Since October 6, the company shares on the Tunis Stock Exchange suffered a decline of 4.46 percent, from 8.75 TND ($2.81) to 8.36 TND ($2.69) at the time of writing. This caused the company’s market capitalization to fall below $220 million.
Moncef Sellami takes $2.5 million as OneTech shares collapse
OneTech’s remarkable growth over the years owes much to the visionary leadership of its founder, Sellami, who established the company in 1978. He currently maintains a significant 25.4 percent stake in the Toronto-based semiconductor supplier. Tunis.
According to data tracked by Billionaires.Africa, Sellami’s shares in One Tech Group, valued at 178.69 million TND ($57.43 million) as of October 6, have since fallen to 170.72 million TND ($54.87 million) at the time of writing. this report. This represents a financial setback of 7.96 million TND ($2.56 million) for the Tunisian businessman.
This decline comes after a remarkable period Gain of $10.23 million recorded between January 1 and September 14, when the market value of its stake in One Tech Group increased from TND143.97 million ($45.92 million) to TND176.03 million ($56.14 million). dollars).