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Saudi PIF buys 16.9% stake in Kingdom Holding Company

Saudi PIF buys 16.9% stake in Kingdom Holding Company

Arab Finance: The Saudi Public Investment Fund (PIF) has acquired a 16.87% stake in Alwaleed bin Talal’s Kingdom Holding Company (KHC) in a consideration of SAR 5.681 billion, according to a company statement on May 21st.

The sovereign wealth fund has bought 625 million shares in KHC, while Alwaleed retained a 78.13% stake in the company.

Reuters reported that the deal would take place on Sunday on the Saudi Stock Exchange (Tadawul).

It is worth noting that KHC invests in more than 18 sectors across six contents with over SAR 50 billion worth of assets.

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