Nigerian-American telecommunications tycoon, Sam Darwish, has suffered a significant financial setback in his stake in IHS Holdings, amid a recent decline in the leading telecommunications infrastructure company’s shares on the New York Stock Exchange (NYSE ).
Data compiled by Billionaires.Africa reveals a notable decline in the market value of Sam Darwish’s stake in IHS Holdings, plunging $6 million over the past 13 days. This drop highlights the growing selling pressure among investors on the NYSE.
Crisis follows a remarkable $14 million gain recorded between March 12 and 30as the market value of Darwish’s stake in IHS Holdings increased from $35.17 million to $49.27 million.
Recent Performance of IHS Holdings
Founded in 2001 by Darwish, IHS Holdings has become the largest telecommunications infrastructure group in Africa, Europe, Latin America and the Middle East. Known for its large number of towers, it ranks as the third largest independent multinational tower company in the world.
Over the past 13 days, IHS Holdings shares on the NYSE fell 11.72 percent, from $3.67 on April 3 to $3.24 at the time of writing. As a result, the company’s market capitalization fell below $1.1 billion, leading to substantial losses for shareholders.
Darwish’s stake in IHS declines
As Chairman and CEO of IHS Holdings, Sam Darwish occupies a central position in African telecommunications. Holding a significant stake of 4.17 percent, equivalent to 13,958,158 ordinary shares, it ranks among the leading players in the global telecommunications infrastructure sector.
The recent double-digit drop in IHS Holdings shares resulted in a $6 million drop in the market value of Darwish’s stake in the leading telecommunications infrastructure giant. His stake fell from $51.23 million on April 3 to $45.22 million.
Despite this setback, Darwish maintains a leading position within the global telecommunications industry. IHS Holdings’ extensive network of towers and strategic acquisitions have consolidated its position as a key player in the global telecommunications infrastructure sector.
