South African multimillionaire executive Michael Guy Attridge (Gus Attridge) has experienced a significant increase in the market value of his investment in Aspen Pharmacare, a well-known pharmaceutical company listed on the Johannesburg Stock Exchange.
Over the last 10 days, the share price of Aspen Pharmacare has increased by a single-digit percentage, resulting in significant gains for Gus Attridge. His stake in the pharmaceutical business has increased by R222.32 million ($12 million).
From March 25 to April 17, Attridge’s Aspen shareholding increased by R151.05 million ($7.95 million), from R4.09 billion ($215.25 million) to R4.24 billion ($223.20 million).
Aspen Pharmacare, which Attridge and leading pharmaceutical mogul Stephen Saad co-founded 25 years ago, has grown to become Africa’s largest pharmaceutical company through aggressive mergers and growth activities.
With large manufacturing facilities around the world, including South Africa, Germany, France, and the Netherlands, Aspen has secured its position in the pharmaceutical sector.
The recent jump in Aspen shares on the JSE, rising by 5.46 percent from R213.74 ($11.550) on April 23 to R225.42 ($12.182), has boosted its market value past $5.4 billion at the time of writing, providing significant gains to its investors.
Gus Attridge, Aspen’s group chief advisor and a JSE heavyweight, owns 4.3 percent of the pharmaceutical company, or 19,033,829 ordinary shares.
The recent rally in Aspen shares increased the market value of Attridge’s interest by R222.32 million ($12 million), from R4.07 billion ($219.65 million) on April 23 to R4.29 billion ($231.65 million).
The rise not only strengthens Attridge’s status as a successful South African business leader and notable JSE investor, but also demonstrates his expanding importance in the worldwide pharmaceutical industry.
