El Hadayek Acquires 164,945 PGH Shares, Demonstrating Confidence in the Company's Future

The Agricultural Company El Hadayek, owned by Slim Ben Ayed, son of the late Abdelwaheb Ben Ayed, has been active on the Tunisian stock market. We are accustomed to seeing acquisition operations of shares in major listed companies on the Tunis Stock Exchange or transactions with other companies with capital ties.

Yesterday, El Hadayek declared that it had purchased 164,945 PGH shares at an average unit price of 10 TND, representing a 9.6% premium over the closing price. This quantity of shares was ceded by Le Coin Bleu Sarl, a real estate company also managed by Slim Ben Ayed. Both operations were carried out on May 10, 2024.

El Hadayek is playing the role of a portfolio manager for other companies owned by Slim Ben Ayed. It consolidates the treasury and allows for the recovery of positions if an entity needs liquidity, and sells otherwise. This model has been successful, especially if the choice of investments is well-made. In this case, we have PGH, a solid title on the market. Even buying it at a higher price than the market, the price will eventually reach the acquisition cost, as there is real growth potential.

Moreover, this type of transaction serves to send a signal to the market that the title is undervalued and reflects the confidence of one of PGH's pillars in its prospects.