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FinancialNews


  • 19-02-23

    Saudi PIF increases Nintendo share twice in one month

    (MENAFN) Saudi Arabia’s Public Investment Fund increased its share in Nintendo Co. to reach 8.26 percent from 7.08 percent, a regulatory filing indicated on Friday, registering it as the biggest external investor in the Japanese gaming company.

    It is the second share rise deal this week after one signed earlier on Wednesday.

    Nintendo is worth USD52 billion, and the firm’s share ended marginally lower on Friday on the Tokyo Stock Exchange at USD40.50 per stake.

    The sovereign wealth fund has been growing its funds in the Japanese gaming giant in addition to Sweden’s Embracer and China’s VSPO supported by Tencent Holdings Ltd..

    It was in May last year the PIF obtained a 5 percent share in Nintendo, and in January 2023 it rose that to 6.07 percent along with the Kingdom’s Vision 2030 target to arise as a worldwide center in the gaming sector.

    Nintendo is one of the top prominent names in the worldwide video games sector, with a portfolio of titles involving Pokemon, The Legend of Zelda, as well as Mario.

    MENAFN19022023000045014228ID1105597062

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