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Key Points
- Sam Darwish’s stake in IHS Holdings has decreased by $6.14 million since July 16, falling from $42.01 million to $35.87 million.
- IHS Holdings’ share price has declined by 14.62% over 22 days, from $3.01 to $2.57, reducing its market cap below $900 million
- IHS Holdings’ market cap has dropped below $900 million amid a 44.13% year-to-date stock decline.
U.S.-Nigerian telecom tycoon Sam Darwish, co-founder of IHS Holdings, has seen the market value of his stake in the company decline by over $6 million in the past three weeks, mirroring a broader decline in the shares of the leading telecom infrastructure firm on the New York Stock Exchange (NYSE).
According to data tracked by Billionaires.Africa, Sam Darwish’s stake in IHS Holdings has dropped by $6.14 million over the past twenty-two days. This follows a substantial loss of $9.35 million recorded between May 31 and July 16, when his stake fell from $50.95 million to $41.6 million.
IHS market cap drops below $900 million
Founded in 2001 by Darwish, IHS Holdings has solidified its position as the largest telecom infrastructure group in Africa, Europe, Latin America, and the Middle East. Based on tower count, it also ranks globally as the third-largest independent multinational tower company.
However, the company has faced considerable challenges recently. IHS share price on the NYSE has fallen by 14.62 percent over the past 22 days, dropping from $3.01 on July 16 to $2.57 at the time of this report. This decline has led to a reduction in the company’s market capitalization, which has now fallen below $900 million.
Sam Darwish’s IHS stake slumps by $6.14 million
Sam Darwish, IHS Towers Holding Chairman and CEO, holds a pivotal role in African telecom. He holds a substantial 4.17-percent ownership stake, translating to 13,958,158 ordinary shares in the telecommunication group.
Since July 16, the market value of Darwish’s stake in the leading telecom infrastructure firm has decreased by $6.14 million, falling from $42.01 million to $35.87 million at the time of this report.
The overall performance of IHS Holdings shares has been weak throughout the year. Year-to-date, the company’s stock has plummeted by 44.13 percent.
For investors, this decline represents a significant risk; a $100,000 investment in IHS at the start of the year would now be worth approximately $55,870, resulting in a loss of $44,130.
