South African executive, Gus Attridge, has witnessed a sharp decline in the market value of his stake in Aspen Pharmacare, Africa's largest pharmaceutical company. Following a series of gains earlier this year, Attridge's holdings in Aspen has slumped by R381.8 million 21.6 million over the past 23 days, bringing his stake below the 250-million mark.
According to data tracked by Billionaires.Africa , Attridge's stake in Aspen, which equates to 19,033,829 shares, has seen a loss of R381.8 million 21.6 million over the past 23 days to R4.41 billion 248.6 million. This follows a period of gains between June 14 and 25, during which the value of his stake increased by 20.5 million .
Aspen shares dip by 5.92 percent, market cap falls below 6 billionAspen Pharmacare , co-founded 25 years ago by Gus Attridge and pharma magnate Stephen Saad, has grown into Africa's largest pharmaceutical company through strategic mergers and global expansion. With manufacturing facilities spanning South Africa, Germany, France, and the Netherlands, Aspen has established itself as a force in the pharmaceutical industry.
However, Aspen's shares have declined by 7.96 percent on the Johannesburg Stock Exchange JSE over the past 23 days, dropping from R251.86 14.18 on July 31 to R236.94 13.34. This slide has caused the company's market capitalization to dip below 6 billion, resulting in significant losses for its investors.
