Sam Darwish, a US-Nigerian telecom entrepreneur and co-founder of IHS Holdings, has experienced a significant financial blow due to his ownership in IHS Towers, as the telecom infrastructure company’s shares fell by about 10% on the New York Stock Exchange.
Darwish’s share in IHS Holding has lost $4.33 million in market value in the last 24 days, as investors profit from their position in the telecom infrastructure company.
Darwish founded IHS Holdings in 2001, and it has since established itself as the leading 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.
Over the past 24 days, IHS shares on the New York Stock Exchange have decreased by 9.84 percent, from $3.15 on Feb. 19 to $2.84 at the time of writing, resulting in considerable losses for stockholders, including the wealthy telecom magnate.
Darwish, IHS’s chairman and CEO, is one of the main players in Africa’s telecom market. He owns a huge 4.17 percent position in IHS Holding, which equates to 13,958,158 ordinary shares.
Since February 19, the recent drop in the share price of IHS Holdings has led Sam Darwish’s investment in the telecom infrastructure business to fall by $4.33 million, from $43.97 million to $39.64 million as per this report.
Despite a recent downturn, he is still a leading player in the worldwide telecom business. His leadership in the company’s strategic expansion of tower assets has cemented his position as a prominent player in the global telecom infrastructure sector.
