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Since the beginning of the year, Sam Darwish, the prominent telecommunications magnate of the U.S.-Nigerian origin and the visionary behind IHS Holdings, has witnessed an astounding surge in his net worth. This remarkable increase can be attributed to a substantial rise in the market value of his ownership in the telecom infrastructure company.
Reports indicate that the market value of Sam Darwish’s stake in IHS Holdings has experienced a remarkable increase of more than $40 million since January.
Sam Darwish, who founded the company in 2001, has overseen IHS Holdings’ growth to become the leading telecom infrastructure group in Africa, Europe, Latin America, and the Middle East.
IHS Holdings ranks as third-largest independent company
Additionally, the company holds the prestigious position as the third-largest independent multinational tower company worldwide, based on its tower count.
As of now, IHS Holdings’ shares are being traded on the New York Stock Exchange (NYSE) at $9.04 per share, propelling the company’s market capitalization to exceed $3 billion. The surge in IHS stock on the NYSE has been remarkable, witnessing a substantial increase from $6.15 to $9.04 since December 30.
This surge represents a significant gain of 46.99 percent for shareholders since the start of 2023, resulting in substantial returns for investors.
The surge in the company’s shares has proven to be exceptionally advantageous for Darwish, given his significant 4.17-percent stake in IHS Holdings, which amounts to 13,905,235 shares.
This surge in share value has resulted in the market value of his stake skyrocketing from $85.52 million at the beginning of the year to an impressive $125.70 million at the current time.
Although IHS shares experienced an exceptional surge since the beginning of the year, the company reported a notable 49.3-percent decline in its profit during the first quarter of 2023, dropping from $15.1 million to $7.66 million.
On the other hand, the company witnessed an impressive 35.1-percent increase in revenue, rising from $446.13 million to $602.53 million.
Despite these financial fluctuations, IHS Holdings remains optimistic and confident in achieving its goals for 2023. The company’s extensive tower network and strategic acquisitions have played a significant role in positioning it as a key player in the global telecom infrastructure landscape.
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