01:28 PM EDT, 08/07/2024 (MT Newswires) -- IHS Holding ( IHS ) shares soared past 17% in recent Wednesday trading after its Nigerian subsidiary disclosed renewal and extension of tenancy deals.

IHS said it agreed to renew and extend until 2032 all its tower master lease agreements with a unit of mobile network operator MTN Group, covering roughly 13,500 tenancy contracts.

The new agreements have a US dollar component linked to US consumer price index, a Nigerian naira component linked to Nigerian consumer price index and an additional component linked to diesel prices and FX fluctuations.

Price: 3.02, Change: +0.45, Percent Change: +17.51