New York-Listed IHS Towers Sees Record Trading Volume

AFRICAN STOCKS AND FINANCEMay 13, 2025 at 11:17 AM UTC

TLDR

IHS Towers saw more than 3M shares traded on the NYSE, its highest single-day volume in nearly two years
The surge accompanied a 9.7% rise in its share price to $5.70 underscoring renewed investor confidence in infrastructure providers
The company’s fortunes are closely tied to Nigeria, which contributed 58.3% of IHS’s total revenue in 2024

IHS Towers, Africa’s largest independent telecom tower operator, saw more than 3 million shares traded on the NYSE on May 7, marking its highest single-day volume in nearly two years. The surge accompanied a 9.7% rise in its share price to $5.70, underscoring renewed investor confidence in infrastructure providers amid improving conditions for Africa’s top telecom operators.

The company’s fortunes are closely tied to Nigeria, which contributed 58.3% of IHS’s total revenue in 2024. Its two anchor clients, MTN Nigeria and Airtel Nigeria, jointly accounted for 57% of that revenue. As both telcos return to profitability in 2025 following years of currency shocks and cost inflation, investors are betting on IHS as a key beneficiary of sector recovery.

IHS’s stock has climbed over 51% year-to-date, outperforming the S&P 500 and the broader tech sector. The company posted $437.8 million in Q4 2024 revenue and $0.73 EPS, beating analyst forecasts. It has locked in 72% of its 2024 revenue under long-term contracts, improving cash flow predictability and reducing downside risk.

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Key Takeaways

Investor interest in IHS highlights a broader shift toward valuing digital infrastructure players driving connectivity across emerging markets. As data consumption rises and mobile subscribers grow, telcos are embracing infrastructure-sharing models to reduce capital expenditure and extend network coverage more efficiently. This model is gaining momentum. In March 2025, MTN Nigeria and Airtel Africa signed a tower-sharing deal that directly benefits IHS by driving increased utilization of existing towers. IHS plans to build 500 new towers in 2025, targeting rural and high-growth areas in Nigeria to support 4G and 5G rollouts. CEO Sam Darwish’s decision to increase his stake in IHS by $7.75 million, bringing his holdings to $64 million, further reinforced investor confidence, signaling strong internal alignment with the company’s long-term strategy.

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