PIF’s total assets in 22 local companies rise to $228.26 billion after acquiring stake in KHC

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RIYADH – The total assets of the Saudi Public Investment Fund (PIF) in listed companies stood at around SR 855.91 billion, split among 22 local companies, according to monitoring by Okaz/Saudi Gazette.

This was after Kingdom Holding Company (KHC) announced on Sunday that it was selling its 625 million shares to PIF. KHC founder Prince Alwaleed Bin Talal has signed an agreement with the PIF to sell 625 million shares, representing 16.87% of the company’s share capital. Thus, the market value of PIF’s shares in KHC reached approximately SR 6.24 billion.

The PIF previously acquired around 4% of Saudi Aramco shares, and its current market value is around SR313.6 billion. The Saudi sovereign wealth fund has so far not sold any part of Aramco shares. Saudi Aramco is the most listed local company in which PIF has a stake.

The PIF owns 67.18% of the shares of Saudi Telecom Co. (STC) worth SR141.89 billion. STC was followed by SNB (Al Ahli Bank) with a value of SR 113.39 billion for the PIF stake.

The Fund has also acquired stakes in other major Saudi companies such as Maa’den, Saudi Electricity Co., ACWA Power, Riyad Bank, Tadawul (Saudi Stock Exchange) and Elm with a value between 10 and 99 billion dollars for each company. .

The ownership of the PIF amounted to between SR 1 and 9 billion in each of the following companies – Alinma Bank, Kingdom Holding Co., Southern Cement, Emaar, Al-Akaria Saudi Real Estate Co., Bahri and Qassim Cement.

The PIF also holds stakes in Yanbu Cement, SAPTCO, Eastern Cement, Saudi Gas Co. and Saudi Ceramics Co. with a value of between SR 200 and 700 million.

A recent report showed that PIF’s stake in the US market stood at around $43.57 billion (SR163.4 billion) at the end of the first quarter of this year.

The Fund increased its holdings in four giant companies, namely Take-Two Interactive, PayPal, Alibaba Group and Farfetch Ltd.

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