The Public Investment Fund announces the completion of the sale of part of its stake in “Masar”
The Public Investment Fund announced today, Wednesday, the completion of the sale of part of its stake in Umm Al-Qura Development and Reconstruction Company (), through the process of building an accelerated order book.
48 million shares were offered, representing 3.3% of the capital. "path"The total value of the offering exceeded 950 million riyals (more than $253 million), and the final offering price was set at 19.8 Saudi riyals per share.
The offering witnessed interest from Investing institutions are local and international, and applications exceeded the total size of the offering, which reflects investors’ confidence in "path"And the attractiveness of the Saudi financial market.
The fund’s ownership after the sale amounts to 234.3 million shares in "path"or the equivalent of 16.3% of the company’s capital, while the deal contributes to an increase in shares "path" Free trading and strengthening the institutional investor base.Local real estatein the Public Investment Fund: "The Public Investment Fund contributes to expanding the investor base "path" By creating opportunities that allow investment institutions to invest in them."
Al-Kroud added: "The offering is in line with the Fund’s investment strategy aimed at enabling the reemployment of capital and returns within its local system, thus enhancing the role of the private sector and financial markets in the Kingdom, and supporting the Fund’s continued efforts to advance sustainable development and diversify the local economy."
The Public Investment Fund is one of the most prominent and influential investment bodies in the world, and works to enable new sectors and opportunities that contribute to shaping the features of the global economy, generating returns, and driving economic transformation in the Kingdom.
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