Gus Attridge’s Aspen stake rebounds above $100 million

South African businessman Gus Attridge has seen the market value of his stake in Aspen Pharmacare Holdings Ltd. climb back above the $100 million mark after a steady rebound in the company’s shares on the Johannesburg Stock Exchange (JSE).

Gus Attridge recovers $6.5 million stake value

Attridge, who co-founded Aspen with Stephen Saad, holds a 4.3 percent stake in the pharmaceutical company. Over the past 18 days, the value of his holdings has risen by R113.79 million ($6.5 million), recovering part of the losses he faced earlier this year.

The recovery comes after a rough stretch between mid-August and early September, when Aspen’s share price slipped and the value of Attridge’s stake fell by about $15.8 million—from R2.23 billion ($126.71 million) to R1.95 billion ($110.87 million).

Aspen’s market cap nears $2.5 billion

Founded 25 years ago, Aspen has grown from a local South African operation into Africa’s largest drug manufacturer, with facilities in Germany, France, and the Netherlands. The company built its reputation through acquisitions and by expanding its range of branded and generic medicines, allowing it to compete across both developing and advanced markets.

On the JSE, Aspen shares have gained 5.43 percent since Sept. 25, rising from R95.18 ($5.50) to R101.11 ($5.85). That rise has lifted Aspen’s market capitalization to around $2.5 billion, reflecting a renewed sense of confidence among investors after a challenging few months.

The stock’s rebound has also boosted Attridge’s holdings, now valued at about R1.94 billion ($112.16 million), up from R1.83 billion ($105.58 million) in late September.

Aspen Shares Down 38% Since January

Aspen’s shares remain down 38.67 percent since January. A $100,000 investment at the start of the year would now be worth $61,330. For Attridge, the recent rebound provides some relief and highlights how quickly market conditions can change.