Egyptian Businessman Mohammed El-sewedy's Stake In Electric Giant Surges By 45 Million
- Mohammed El-Sewedys stake in Elsewedy Electric has surged by 45.8 million this year, reaching 624 million amid a stock rally.
- The companys stock climbed 7.92 in 2024, pushing its market capitalization beyond 3 billion and delivering strong shareholder returns.
- Founded in 1938, the company remains a key player in Egypts energy sector, supplying cables, transformers, and wind energy solutions.
Egyptian businessman Mohammed El-Sewedy has seen a significant rise in the market value of his stake in Cairo-based Elsewedy Electric, which has jumped by millions of dollars, bringing it back to 624 million. The increase has strengthened his standing among Egypts wealthiest individuals.
El-Sewedys shares climb on EGXElsewedy, who owns an 18.01 percent stakeequivalent to 385,602,690 sharessits on the companys board alongside family members. Since the start of the year, his stake has risen by EGP2.32 billion 45.8 million, fueled by a strong rally in the companys stock on the Egyptian Exchange EGX .
Last year, Elsewedy Electric experienced a sharp rise, significantly boosting shareholder value. The surge added more than 243 million to Mohammed El-Sewedys fortune, with his stake climbing from EGP11.18 billion 361.31 million to EGP29.26 billion 604.88 million.
Elsewedy Electric gains, market cap tops 3 billionElsewedy Electric , founded in 1938 by the El-Sewedy family, is a major player in Egypt and the MENA regions electrical industry. The company supplies cables, transformers, energy meters, and wind energy solutions, strengthening its role in regional energy infrastructure.
Since the start of the year, Elsewedy Electrics stock on the EGX has climbed 7.92 percent, rising from EGP75.88 1.5 on Jan. 1 to EGP81.89 1.62 at the time of writing. This rally has lifted the companys market cap past 3 billion, delivering strong returns to shareholders, including the Elsewedy family.