Table of Contents
Key Point
- Sam Darwish’s IHS Holdings stake drops $9.35 million over 45 days amid 18.36% share decline.
- IHS Holdings’ market cap falls below $1 billion as NYSE shares hit $2.98, down from $3.65.
- Year-to-date, IHS shares plummet 35.22%, signaling substantial investor losses.
U.S.-Nigerian telecom tycoon Sam Darwish, co-founder of IHS Holdings, has experienced a significant decline in the market value of his stake in the company due to a recent drop in the company’s share price on the New York Stock Exchange (NYSE).
According to data from Billionaires.Africa, the value of Darwish’s stake in IHS Holdings has plummeted by $9.35 million over the past 45 days. This downturn reflects broader fluctuations impacting the telecommunications infrastructure sector.
This financial setback contrasts with a previous gain of $2.79 million recorded between May 22 and 30, when the market value of his stake rose from $43.83 million to $46.62 million.
IHS shares down 18 percent, Darwish loses $9.35 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.
Over the past 45 days, IHS shares have declined by 18.36 percent on the NYSE, falling from $3.65 on May 31 to $2.98 at the time of writing. This decline has pushed the company’s market cap below $1 billion, leading to notable losses for shareholders.
As chairman and CEO, Darwish holds a 4.17-percent ownership stake in IHS Holdings, amounting to 13,958,158 ordinary shares. The sustained decline in the company’s shares has caused the market value of his stake to decline by $9.35 million over the past 45 days, from $50.95 million on May 31 to $41.60 million.
IHS shares down 35.22 percent
IHS Holdings shares have fallen 35.22 percent year-to-date, highlighting the potential risks for investors. For example, a $100,000 investment in IHS at the beginning of the year would now be worth $64,780, reflecting a significant loss of $35,220.
