Egypt’s Khamis family loses $15 million as Oriental Weavers stock declines

The wealthy Khamis family of Egypt has seen the value of its stake in Oriental Weavers fall by about $15 million over the past month, as persistent selling pressure on the Egyptian Exchange (EGX) continues to weigh on the stock.

Khamis family’s 56% Oriental Weavers stake falls

The family, which includes Yasmine Mohamed Khamis and her siblings, controls 56.48 percent of Oriental Weavers, the world’s largest producer of machine-made carpets. 

Their combined stake amounts to about 376.32 million shares. Since Aug. 24, the value of that holding has dropped by EGP741.35 million ($15.36 million), bringing it below $170 million.

The decline comes only weeks after the family booked notable gains. Between June 19 and July 19, their shares rose by EGP827.9 million ($16.75 million), pushing the family’s stake from EGP7.9 billion ($159.93 million) to EGP8.73 billion ($176.68 million). 

Sharp loss in stake value

Oriental Weavers has been listed on the EGX since 1997. Founded in 1979, the company has manufacturing plants in Egypt, China, and the US, and distributes its carpets and textiles to around 150 countries.

The latest decline reflects an 8.53 percent fall in Oriental Weavers’ share price, which slid from EGP23.1 ($0.48) to EGP21.13 ($0.44) since Aug. 24. The family’s holdings dropped from EGP8.69 billion ($180.08 million) to EGP7.95 billion ($164.72 million) over that period.

Oriental Weavers shares drop 18% in 2025

Since the start of 2025, shares of Oriental Weavers have fallen 18.23 percent. For investors the decline has been costly as a $100,000 stake at the beginning of the year would now be worth about $81,770 wiping out $18,230 in value.

The drop underscores the pressure facing the Egyptian carpet maker. Rising inflation and a weakening pound have weighed on consumer demand and increased operating costs eroding confidence in the company’s earnings outlook.