Prince Alwaleed sells 16.87% stake in Kingdom Holding to PIF at SAR 9.09/share

22/05/2022 Argaam

Logo of Kingdom Holding Co.

Kingdom Holding Co. (KHC) announced that major shareholder and founder, Prince Alwaleed bin Talal, signed, on May 19, an agreement with the Public Investment Fund (PIF) to sell 625 million shares, representing 16.87% of the company’s share capital, according to a bourse statement.  

 

The sale was made through a private sale and purchase transaction at SAR 9.09 each.

 

The deal will be executed on Tadawul today, May 22, the statement said, adding that Prince Alwaleed’s stake will become 78.13% after completion of the deal

 

Based on the stock price, the sale value reaches SAR 5.68 billion.

 

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