Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 2025

0:00
0:00

Kingdom Holding shares up 20% after Alwaleed bin Talal’s $1.5bn deal with PIF

Shares of Kingdom Holding have soared almost 20 percent since Saudi billionaire Prince Alwaleed bin Talal sold part of his stake to the Public Investment Fund in a $1.5 billion deal.

Saudi Arabia’s Public Investment Fund has entered a deal to buy a SR5.7 billion ($1.5 billion) stake in Kingdom Holding Co. from Saudi billionaire Prince Alwaleed bin Talal.

A 16.87-percent stake, representing 625 million shares of Kingdom Holding, will be transferred to the PIF, according to a bourse filing.

Upon completion of the transaction, Alwaleed bin Talal’s ownership will be reduced to 78.13 percent.

Founded in 1980, Riyadh-based Kingdom Holding is engaged in investment activities across diversified sectors.

In response to the move, the investment firm’s shares soared 8.8 percent to lead the gainers in early Sunday trading, with a share price of SR9.89 as of 10:53 a.m. Saudi time.

The Saudi sovereign wealth fund aims to more than double this growth — targeting around SR4 trillion in assets under management by 2025, with a focus on contributing billions of dollars to the Kingdom’s non-oil gross domestic product.

Several non-oil sectors have been identified as priority sectors in its diversification plan, such as housing, healthcare and financial services.

But it was tourism that saw the first major announcement from the PIF in 2021.

The fund invests outside the Kingdom as a way of bringing value to the Saudi economy. The next four years will be key for the PIF as the Kingdom draws ever nearer to 2030.

It is a key player in the Kingdom’s diversification strategy, particularly in achieving the Vision 2030 goals.

Since the approval of its new strategy in 2016, PIF has created 47 companies and generated more than 400,000 jobs directly and indirectly through their projects and ventures.

The fund reduced its ownership of US equities by 22 percent to $43.6 billion by the end of the first quarter of 2022, against $55.9 billion it held a quarter earlier.

PIF cut its stake in three companies —Visa Inc., Plug Power, and Walmart, Argaam reported, citing a filing by the US Securities and Exchange Commission.

However, it increased its holdings in Take-Two Interactive, PayPal, Alibaba, and Farfetch Ltd.

While it exited its stake in Just Eat Takeaway.com, five new investments were made by the sovereign fund in Carnival, Babylon, SIGNA Sports United NV, Meta Platforms, and Sea Ltd.

Most recently, PIF announced the launch of Saudi Coffee Co., aimed at turning Saudi coffee beans into a global product with $320 million to be invested in the next 10 years.


Kingdom Holding shares up 20% after Alwaleed bin Talal’s $1.5bn deal with PIF


The stock gained 9.5 percent to end Monday’s session at SR10.94 ($2.92), adding to a 9.9-percent gain from a day earlier.

PIF has acquired 16.87 percent, or 625 million shares, of Kingdom Holding's capital, cutting Alwaleed bin Talal’s stake to 78.13 percent.

Founded in 1980, Riyadh-based Kingdom Holding is engaged in investment activities across diversified sectors.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×