Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Rubio: 'Very short window', maybe days, for Hamas to accept deal
Al Mayadeen correspondent to southern Lebanon: Israeli warplanes launched a raid on the Ksar Zaatar neighborhood in western Nabatieh.
Al Mayadeen's correspondent in Gaza: The tower destroyed by the Israeli occupation in Gaza includes media offices, including Al Mayadeen's bureau.
Al Mayadeen's correspondent in Gaza: Four fetuses and three premature babies died at Nasser Medical Complex due to malnutrition
Lebanese Ministry of Health: One person was killed in an Israeli airstrike on a car in the town of Burj Qalawieh, south Lebanon.
Al Mayadeen correspondent: The first ship of the Maghreb fleet delivering aid to break the siege on Gaza departs from the port of Gammarth in Tunisia.
Channel 12: Airspace closed at Ramon Airport due to fears of drone infiltration
IOF Spokesperson: Sirens sounded over an aircraft infiltration in the Bir Ora area, and details are being examined
Drone infiltration sirens sound north of the Gulf of Aqaba
Al Mayadeen's correspondent in Gaza: The Israeli occupation carried out five extremely violent raids on the western areas of Gaza City

KSA's Alwaleed to sell 16.87% of Kingdom Holding to PIF

  • By Al Mayadeen English
  • Source: Agencies
  • 22 May 2022 11:08
2 Min Read

Public Investment Fund (PIF) is to purchase 625 million shares for 9.09 riyals ($2.42) per share.

  • x
  • KSA's Alwaleed to sell 16.87% of Kingdom Holding to PIF.
    KSA's Alwaleed to sell 16.87% of Kingdom Holding to PIF

Saudi billionaire Prince Alwaleed bin Talal has agreed to sell 16.87% of his investment firm Kingdom Holding Co (4280.SE) to Saudi Arabia's strong national wealth fund, the company announced on Sunday.

Kingdom Holding announced in a stock exchange filing that the Public Investment Fund (PIF) will purchase 625 million shares for 9.09 riyals ($2.42) per share for a total of 5.68 billion riyals ($1.51 billion).

The agreement's share price was where the stock closed on Thursday, its lowest level in a year. In early trade on Sunday, it rose more than 6% to roughly 9.7 riyals.

Related News

Saudi Prince AlWaleed Bin Talal to keep shares in Musk's Twitter

Elon Musk up to paying $15bn to take over Twitter

According to the corporation, the transaction will take place on Saudi Arabia's stock exchange, Tadawul, on Sunday. Prince Alwaleed, one of the kingdom's most prominent corporate heavyweights, will maintain a 78.13% interest.

The PIF, which oversees over $600 billion in assets, is essential to Crown Prince Mohammed bin Salman's ambitious plan to diversify Saudi Arabia's economy away from oil.

Saudi royals selling valuables as MBS makes power play

Last month, according to a report by The Wall Street Journal, Saudi princes have sold $600 million worth of real estate, yachts, and artwork since Mohammad bin Salman has attempted to further consolidate power by cutting off their access to money.

MBS, Saudi Arabia's de facto ruler, has dried up the Saudi royals' sources of money under the pretense that they have "extraordinary spending habits" they have to maintain, but this could very much be an extension of the 2017 Ritz-Carlton power play.

Some of those currently liquidating assets, including  Alwaleed bin Talal, were detained in Riyadh's Ritz-Carlton hotel in 2017, in what was called by critics as a shakedown, whereby the royals wishing to leave had to sign over large sums of their belongings to the Crown Prince.

  • Alwaleed Bin Talal
  • Public Investment Fund
  • Saudi Arabia

Most Read

The damaged building in the Katara neighborhood, Doha, Qatar, September 9, 2025 (Social media)

Hamas delegation survives Israeli assassination attempt in Qatar

  • Politics
  • 9 Sep 2025
Pro-"Israel" conservative Charlie Kirk shot during Utah speech

American far-right activist Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
President Nicolas Maduro gestures to supporters during the inauguration of a monument in China's honor on the 80th anniversary of the end of World War II, in Caracas, Venezuela, Wednesday, September 3, 2025 (AP)
Politics

Maduro warns of threats, urges 'battle for truth' to defend Venezuela

Damage is seen after an Israeli strike targeted a compound that hosted Hamas' political leadership in Doha, Qatar, Wednesday, Sept. 10, 2025. (AP Photo/Jon Gambrell)
Politics

Netanyahu informed Trump before deadly attack in Doha: Reports

Israeli Prime Minister Benjamin Netanyahu and US Secretary of State Marco Rubio hold a joint press conference at the Prime Minister's Office, during Rubio's visit, in occupied al-Quds, occupied Palestine, Monday, September 15, 2025 (AP)
Politics

Netanyahu warns of Israeli isolation, calls to boost self-reliance

Spain axes €700Mln arms deals with 'Israel' over Gaza genocide
Politics

Spain axes €700 mln arms deals with 'Israel' over Gaza genocide

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS