Saudi investment firm Kingdom Holding Co. (KHC) disclosed that it has made investments worth more than SAR 12.8 billion ($3.4 billion) since 2020, including in major Russian energy companies.
Kingdom’s total investments amounted to SAR 4.33 billion ($1.15 billion) in 2020, SAR 3.75 billion ($1 billion) in 2021, and SAR 4.73 billion ($1.26 billion) in 2022, a filing on Tadawul bourse on Sunday showed.
The company, owned by Saudi billionaire Prince Alwaleed Bin Talal, bought depository receipts worth a total of SAR 1.974 billion ($527 million) in Russian companies Gazprom PSJC, Lukoil PSJC and Rosneft PSJC in the first six months of this year.
Other investments since 2020 included stakes in Spain’s Telefonica SA, France’s TotalEnergies SE, Rio Tinto, Alibaba Group Holding Ltd., and Uber Technologies Inc.
The most recent purchase was in June this year of a SAR 178 million stake in Hercules Capital Inc. Kingdom shares closed over 1% higher at SAR9.5 at close of trading on Sunday.
In June, the company said it had invested SAR 12.8 billion riyals in new sectors over the past two years.
This report’s information was first seen on Zawya; to read more, click this link.
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