U.S.-Nigerian telecom tycoon Sam Darwish’s stake in IHS surges above $70 million

Feyisayo Ajayi -

Sam Darwish, a U.S.-Nigerian telecom tycoon and co-founder of IHS Holdings, has recorded a significant surge in his stake in IHS Holdings in recent times driven by the surge in the share price of the telecom infrastructure firm.

Darwish’s stake in IHS Holdings has experienced a remarkable surge, skyrocketing by $10.33 million over the past 18 days. This surge can be attributed to the robust rebound in the share price of the prominent telecom giant on the New York Stock Exchange. As a result, the market value of Darwish’s stake in the group has now exceeded the $70-million mark.

IHS surges over 10 percent on NYSE, crosses $1.7-billion market capitalization

IHS Holding, the global telecom infrastructure group founded in 2001 by Darwish, a leading player in the African telecom industry has established itself as a key player in the telecom infrastructure sector, with active operations in Africa, Europe, Latin America, and the Middle East.

Based on tower count, the company also ranks globally as the third-largest independent multinational tower company. Presently, IHS Towers operates an extensive network of over 39,000 towers across 11 markets, including Brazil, Cameroon, Colombia, Côte d’Ivoire, Egypt, Kuwait, Nigeria, Peru, Rwanda, South Africa, and Zambia.

In recent times, IHS shares on the New York Stock Exchange have experienced a significant increase of 10.74 percent, rising from $4.75 on Oct. 27 to $5.49 at the time of drafting this report.  The surge in the company’s shares has propelled its market capitalization above $1.7 billion, reaffirming its strong position in the telecom infrastructure sector.

Darwish’s stake in IHS Holdings surges above $70 million

Darwish, a leading figure in the global telecom industry, maintains a substantial 4.17-percent stake in IHS Holdings, equivalent to 13,958,158 shares within the company.

According to the data tracked by Billionaires.Africa, the market value of his stake in IHS Holdings has increased by $10.33 million, rising from $66.3 million on Oct. 27 to $76.63 million at the time of drafting this report.

This recent increase in Darwish’s holdings in the telecom infrastructure firm reaffirms his position as one of the top players in the global telecom industry