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

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

RIYADH — The total assets of the Saudi Public Investment Fund (PIF) in the locally listed companies amounted to about SR855.91 billion, divided among 22 local companies, according to a monitoring carried out by Okaz/Saudi Gazette.

This was after the announcement made by the Kingdom Holding Company (KHC) on Sunday about the sale of its 625 million shares to PIF. KHC founder Prince Alwaleed Bin Talal signed an agreement with the PIF to sell 625 million shares, representing 16.87 percent of the company’s share capital. By this, the market value of PIF’s shares in KHC reached about SR6.24 billion.

The PIF had earlier acquired about four percent of the Saudi Aramco shares, and its current market value is about SR313.6 billion. The Saudi sovereign fund has not sold any part of the Aramco shares so far. Saudi Aramco is the highest listed local company in which PIF has a stake.

The PIF owns 67.18 percent of the shares of the Saudi Telecom Co. (STC) with a value of SR141.89 billion. STC was followed by SNB (Al Ahli Bank) with a value of SR113.39 billion regarding the PIF stake.

The Fund has also acquired stakes in other major Saudi companies such as Maa’den, Saudi Electricity