Arab News, Thursday, Jun 23, 2022 | Zul Qaadah 23, 1443
Kingdom Holding closes $3.4bn multi-sector investment program
Saudi Arabia’s Kingdom Holding Co. has concluded a multisector investment
program valued at SR12.8 billion ($3.4 billion).
According to the filing, the program took place
over a period of two years starting from the second quarter of 2020 until the
The program is the first major announcement for
KHC following the sale of shares to the Kingdom's sovereign wealth fund, Public
Saudi billionaire Prince Alwaleed bin Talal
earlier this year sold part of his stake in KHC to the PIF in a $1.5 billion
deal, reducing his interest to 78.13 percent.
KHC allocated the amount across various fields
including, but not limited to, mobility, energy, digital media, e-commerce,
insurance, and commodities, a bourse filing showed.
The new sectors complement the company’s
portfolio, with existing investments in banking, real estate, healthcare,
education, petrochemicals, hotel management, social media, mining, and aviation.