Sam Darwish, a US-Nigerian telecom tycoon and co-founder of IHS Holdings, has seen the market value of his interest in the company fall significantly as a result of the company’s recent share price collapse on the New York Stock Exchange (NYSE).
According to data, Darwish’s position in IHS Holdings has dropped by $9.35 million in the last 45 days. This decline mirrors broader variations in the telecommunications infrastructure sector.
This financial setback contrasts with a previous gain of $2.79 million from May 22 to 30, when the market value of his stock increased from $43.83 million to $46.62 million.
Darwish founded IHS Holdings in 2001, and it has since become the largest telecom infrastructure business in Africa, Europe, Latin America, and the Middle East. Based on tower count, it is the world’s third-largest independent multinational tower company.
IHS shares have decreased by 18.36% on the NYSE in the last 45 days, from $3.65 on May 31 to $2.98 as of this writing. This fall has reduced the company’s market capitalization below $1 billion, resulting in significant losses for stockholders.
Darwish, Chairman and CEO of IHS Holdings, owns 4.17 percent of the company, or 13,958,158 ordinary shares. The prolonged slide in the company’s shares has caused the market value of his investment to fall by $9.35 million in the last 45 days, from $50.95 million on May 31 to $41.60 million.
IHS Holdings shares are down 35.22 percent year to date, illustrating the potential hazards for investors. For example, a $100,000 investment in IHS at the start of the year is now worth $64,780, representing a huge loss of $35,220.
