Aissa Hidoussi Strengthens Position in Best Lease with Recent Purchase
As of April 20, 2024, Aissa Hidoussi held 12.68% of the capital of Islamic lessor Best Lease, equivalent to 3,806,475 shares. This stake is historic, as before the company's IPO on October 23, 2013, at a price of 2,100 TND, Hidoussi already held 1,028,093 shares, representing 5.14% of the capital. He has occupied the position of General Manager for over a decade and was the architect of the company's IPO.
Yesterday, Aissa Hidoussi further reinforced his position by purchasing 935,161 shares at a unit price of 2,150 TND, totaling 2,010 MTND. Following this operation, his stake in the capital increased to 4,741,636 shares, representing 15.80% of the company's capital.
It's worth noting that Best Lease has never disappointed. For those who invested in the company since its IPO, they would have recovered, net, 0.932 TND in the form of dividends, equivalent to 44.4% of their initial investments. We don't know many entities that have achieved this. As of yesterday's close, the stock's return stands at 45.0%, an honorable performance.
It's worth mentioning that this transaction took place before the dividend distribution date of 0.140 TND per share, which will allow Aissa Hidoussi to recover a net envelope of 0.597 MTND, equivalent to 29.7% of his recent investment. A beautiful operation that can also inspire investors. Indeed, investing such a sum in the company by its General Manager is a sign of its excellent financial health and solid prospects.
The question remains as to the identity of the seller. We don't think it's Arab Leasing International Finance, as it is the reference shareholder. For Al Baraka Bank, it is likely involved in the transaction, as the sold quantity leaves it above the 20% threshold, avoiding a downward threshold declaration. It is also possible that the seller is another investor, given the 23.04% float. Wait and see.