Saudi Arabia’s Public Investment Fund Buys Stake in Kingdom Holding Company
Posted on 05/22/2022
Saudi Arabia’s Public Investment Fund (PIF) acquired a 16.9% stake in Kingdom Holding Company for 9.09 riyals a share, or US$ 1.5 billion. Saudi Prince Alwaleed Bin Talal (age 67) will retain the other 78.1%. Kingdom Holding Company has held stakes in News Corporation, Snapchat Inc., and Citigroup Inc.
Founded in 1980, Riyadh-based Kingdom Holding Company is a listed company.