U.S.-Nigerian telecom magnate Sam Darwish has seen a substantial increase in his wealth over the last two weeks. This surge is attributed to a double-digit rise in shares of his telecom infrastructure company, IHS Holdings. The boost follows renewed investor interest, leading to significant share purchases in the leading telecom infrastructure firm.
According to data tracked by Billionaires.Africa, the market value of the stake held by Darwish in IHS Holding has risen by $7.54 million over the last 14 days, as investors continue to increase their stakes in the leading conglomerate. The surge comes on the heels of the $16.6 million financial setback recorded between Jan. 12 and Feb. 3.
IHS Holdings’ market cap tops $1 billion amid 20.69-percent surge
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.
Darwish, the chairman and CEO of IHS, stands among the prominent figures in the African telecom sector, boasting a significant 4.17-percent ownership stake in IHS Holding, totaling 13,958,158 ordinary shares.
Over the last 14 days, IHS shares on the New York Stock Exchange has increased by 20.69 percent, rising from $2.61 on Feb. 5 to $3.15 at the time of drafting this report, thus propelling the market capitalization of the telecom infrastructure firm above $1 billion.
IHS Holdings: Darwish’s investment surpasses $40 million
The 20.69-percent surge in IHS Holdings’ share price has resulted in a $7.54 million gain for the affluent telecom magnate in the last 14 days, with the market value of Darwish’s stake increasing from $36.43 million on Feb. 5 to $43.97 million at the time of writing.
The recent $7.5-million gain in Darwish’s stake in IHS Holdings cements his position as one of the richest investors in IHS Holdings and as one of the top figures in the global telecom infrastructure sector.