Khamis family loses $10 million on Oriental Weavers stake in 22 days

Key Points

• The Khamis family’s stake in Oriental Weavers dropped over $10 million, now valued below $170 million amid share price decline on the Egyptian Exchange.
• Oriental Weavers shares fell nearly 6% in three weeks, pushing market capitalization to about $291 million and raising investor concerns.
• Since January, the stock is down 12.5%, reducing a $100,000 investment to roughly $87,480, reflecting ongoing market caution.

The Khamis family of Egypt, well known for their role in the global carpet trade, has seen the value of their stake in Oriental Weavers fall by more than $10 million. This follows a notable decline in the company’s share price on the Egyptian Exchange (EGX), bringing pressure on one of Egypt’s richest families.

Stake value falls below $170 million

The family, which includes Yasmine Mohamed Khamis and her siblings, owns 56.48 percent of Oriental Weavers, the world’s largest producer of machine-made carpets. Their holding, which amounts to roughly 376.32 million shares, has lost EGP508.03 million ($10.16 million) in value over the past 22 days. This slide has pulled the total worth of their stake below the $170 million mark.

This follows an earlier decline between Feb. 4 and April 16, when the family’s stake dropped by $17.09 million, from EGP9.56 billion ($187.1 million) to EGP8.69 billion ($170.01 million). This slide points to growing concerns among investors, amid broader market uncertainty and persistent economic pressures.

Shares down nearly 6 percent

Oriental Weavers, founded in 1979 and listed on the EGX since 1997, is a major player in the global market for carpets and textiles. It operates production facilities across Egypt, China, and the United States, and exports to nearly 150 countries.

Over the past three weeks, the company’s share price has fallen by 5.81 percent, from EGP23.22 ($0.4643) on April 27 to EGP21.87 ($0.4373). As a result, Oriental Weavers’ market capitalization now stands at around $291 million, leaving shareholders to absorb fresh losses and raising fresh questions about near-term prospects.

Investor sentiment turns cautious

The Khamis family’s stake has continued to decline alongside the stock’s performance. Between April 27 and May 19, their stake dropped from EGP8.74 billion ($174.74 million) to EGP8.23 billion ($164.58 million), as investors responded cautiously to recent market signals and company performance.

Despite the slide, the Khamis family remains a central figure in Egypt’s industrial sector. Their business legacy stretches back decades, and they continue to hold significant influence both at home and abroad.

Stock down over 12% in 2025

Since the beginning of the year, Oriental Weavers shares have dropped 12.52 percent. For investors, that means a $100,000 investment in the company’s shares at the start of 2025 would now be worth about $87,480, a loss of $12,520.