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
Russian agency: Russia will conduct a nuclear test if the US does
Al-Nakhalah: We are the rightful owners, and we must fight to retrieve our rights
Al-Nakhalah: The enemy and its allies must know that we can never surrender to their terms and diktats after all the sacrifices made
Al-Nakhalah: The prisoner exchange clause can be completed in the next few days, and thus we will have pulled the [explosion] fuse and removed the enemy's justifications for aggression
Al-Nakhalah: The Resistance has expressed its willingness to negotiate on the basis that there are items that can be dealt with positively, the first of which is the prisoner exchange item
Al-Nakhalah: Trump's plan entails the Palestinian people's declaration of complete surrender to the enemy
PIJ Secretary-General, Ziyad al-Nakhalah, in an address aired on Al Mayadeen: The Resistance is engaging in a fierce negotiating battle under the so-called Trump plan
Russian Federation Council approves joint military cooperation agreement with Cuba
Al-Nunu: Today, the lists of prisoners required to be released, the agreed-upon criteria and numbers, were exchanged
Al-Nunu from Sharm el-Sheikh: Negotiations focused on mechanisms for implementing an end to the war, the withdrawal of occupation forces from the Gaza Strip, and the exchange of prisoners

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

Tucker Carlson speaks at a memorial for Charlie Kirk, Sunday, September 21, 2025, at State Farm Stadium in Glendale, Arizona (AP)

Tucker Carlson: Israeli officers gave orders on Iran inside Pentagon

  • Politics
  • 2 Oct 2025
A Hamas fighter in combat fatigues stands before the ceremony for the handover of Israeli captives to the Red Cross in Nuseirat, central Gaza Strip, Saturday, February 22, 2025 (AP)

Hamas responds to Trump plan, backs Gaza withdrawal, exchange

  • Politics
  • 3 Oct 2025
Mossad’s secret role in Aldo Moro’s 1978 murder revealed

Mossad’s secret role in Aldo Moro’s 1978 murder exposed

  • Politics
  • 5 Oct 2025
Al-Quds Brigades strike a command and control center north of Khan Younis, southern Gaza Strip, in an undated screengrab from the al-Quds Brigades military media

Gaza resistance announces major operations against Israeli forces

  • Politics
  • 1 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Retired Israeli General Brik says Israel has reached point of no return.
Politics

Retired Israeli General Brik: 'Israel has reached point of no return'

Depleted by foreign wars, US seeks to re-arm for another confrontation
Politics

Depleted by foreign wars, US seeks to re-arm for another confrontation

Gaza’s newborns gasp for life as hospitals collapse amid Israeli war
Health

Gaza newborns gasp for life, share oxygen masks amid collapsed system

UK arms exports to 'Israel' reach record high despite ban calls
Politics

UK arms exports to 'Israel' reach record high despite ban calls

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