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U.S.-Nigerian telecom mogul Sam Darwish has witnessed a significant upswing in the market value of his stake in IHS Holding in recent times, thanks to the surge in the share price of the telecom infrastructure company on the New York Stock Exchange (NYSE).
According to data tracked by Billionaires.Africa, the market value of Darwish’s IHS Holding stake has increased by $7.4 million over the last 13 days, as investors continue to increase their stakes in the leading conglomerate.
The surge comes on the heels of the $6-million financial setback recorded between April 3 and 16 when the market value of his stake in IHS Holdings declined from $51.23 million to $45.22 million.
IHS climbs above $1.2-billion market cap
Founded in 2001 by Darwish, IHS Holdings has emerged as the largest telecom infrastructure group in Africa, Europe, Latin America, and the Middle East. Renowned for its extensive tower count, it ranks as the third-largest independent multinational tower company globally.
Over the last 13 days, IHS Holdings shares on the NYSE have risen by 17.04 percent, from $3.11 on April 17 to $3.64 at the time of this report, propelling the company’s market capitalization above $1.2 billion.
Darwish’s stake gains $7.4 million
Serving as both chairman and CEO of IHS Holdings, Sam Darwish holds a pivotal role in African telecom. With a substantial 4.17-percent ownership stake, amounting to 13,958,158 ordinary shares, he stands among the foremost figures in the worldwide telecom infrastructure sector.
The double-digit rise in the shares of the telecom infrastructure company has accrued a $7.4-million gain to the market value of Darwish’s stake in the last 13 days, growing from $43.41 million on April 17 to $50.81 million.
