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FinancialNews
23-05-22
Prince Alwaleed, PIF inks a deal for 16.87 percent of kingdom holding
(MENAFN) Kingdom Holding, the Saudi Arabian investment firm owned by Prince Alwaleed bin Talal, traded a 16.87 percent share in the firm to the Public Investment Fund, the nation’s independent wealth fund, in an arrangement that worth USD1.5 billion.
The firm is trading 625 million stocks to the PIF at a cost of 9.09 Saudi riyals (USD2.42) per share, the firm stated in an announcement to the Tadawul Stock Exchange, where its shares are sold, the firm's stock price is around 9 percent less since the beginning of 2022.
The firm stated that after the close of the agreement, Prince Alwaleed is going to possess a 78.13 percent share in Kingdom Holding.
The market worth of Kingdom Holding as of Sunday is around 33.69bn riyals (nearly USD8.9bn).
MENAFN23052022000045014228ID1104257204
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