Key Points:
- U.S.-Nigerian telecom mogul Sam Darwish regains $2.79 million as IHS Holdings stock rebounds on the NYSE.
- Founded by Darwish, IHS is a leading telecom infrastructure group with a global tower footprint.
- Despite the recent gain, IHS stock is down 27% year-to-date. Investors should be cautious due to the stock’s overall performance in 2024.
U.S.-Nigerian telecom mogul Sam Darwish has seen a recent rebound in the market value of his stake in IHS Holdings, following a period of decline. This mirrors the recent rally in the company’s share price on the New York Stock Exchange (NYSE).
According to data tracked by Billionaires.Africa, Darwish’s stake has increased by $2.79 million over the past seven days. This follows a $9.63 million loss he recorded between May 7 and 16, when his holding fell from $55.13 million to $45.50 million.
Founded in 2001 by Darwish, 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.
IHS Holdings: A telecom tower powerhouse
Founded by Darwish in 2001, IHS Holdings has cemented its position as a leading telecom infrastructure group across Africa, Europe, Latin America, and the Middle East. Based on tower count, it ranks as the world’s third-largest independent multinational tower company.
IHS Holdings shares on the NYSE have gained 6.37 percent, climbing from $3.14 on May 22 to $3.34. This surge has propelled the group’s market capitalization above $1 billion and generated returns for investors.
Darwish: A key player in global telecom
As Chairman and CEO of IHS Holdings, Darwish plays a pivotal role in African telecom. With a significant 4.17 percent ownership stake (13,958,158 ordinary shares), he is a prominent figure in the global telecom infrastructure sector.
The recent share price surge has fueled a $2.79 million increase in the market value of Darwish’s stake over the past week, rising from $43.83 million on May 22 to $46.62 million.
Your money and your life: Caution for new investors
While recent developments regarding Darwish’s stake are noteworthy, investors seeking significant returns through IHS Holdings shares should exercise caution given the stock’s price performance thus far in 2024.
IHS share price has slumped 27.39 percent year-to-date. Investors who purchased shares on January 1, 2024, are currently sitting on a loss. A $100,000 investment would now be worth only $72,610, reflecting a decline of $27,390.
