U.S.-Nigerian telecom tycoon Sam Darwish, co-founder of IHS Holdings, has seen the market value of his stake in the company decline by over $6 million in the past three weeks, mirroring a broader decline in the shares of the leading telecom infrastructure firm on the New York Stock Exchange (NYSE).
According to data tracked by Billionaires.Africa , Sam Darwish's stake in IHS Holdings has dropped by $6.14 million over the past twenty-two days. This follows a substantial loss of $9.35 million recorded between May 31 and July 16 , when his stake fell from $50.95 million to $41.6 million.
IHS market cap drops below $900 millionFounded 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.
However, the company has faced considerable challenges recently. IHS share price on the NYSE has fallen by 14.62 percent over the past 22 days, dropping from $3.01 on July 16 to $2.57 at the time of this report. This decline has led to a reduction in the company's market capitalization, which has now fallen below $900 million.
