Kingdom Holding’s share in SpaceX jumps to 25.6 billion riyals after the listing
Kingdom Holding Company announced that… "SpaceX" The company, in which the company owns about 42.4 million Class A common shares, completed its initial public offering and became listed on the Nasdaq Stock Exchange last Friday, with an initial offering price of $135 per share, closing its first trading day at a price of $160.95.
The company said in a statement on its website "Saudi Arabia trading"The book value of the shares owned by Kingdom Holding is estimated at $4.47 billion, equivalent to 16.76 billion riyals, according to the company’s financial statements as of March 31, 2026, and based on Friday’s closing price of $160.95 per share, the fair value of the company’s share is approximately $6.83 billion, equivalent to 25.6 billion riyals.
And according to conditions In the initial public offering, the shares owned by Kingdom Holding Company in SpaceX are subject to a trading ban period of up to 180 days from the date of listing, with certain provisions for early lifting of the ban, according to conditions that include announcements of SpaceX’s financial results and levels of share price performance.
Kingdom Holding Company is a long-term investor in this asset since its initial investment in Twitter (currently "X") in 2011, along with its early investment in XAI, which subsequently incorporated X and later merged with SpaceX, Kingdom Holding Company still believes in the promising future of SpaceX in the long term. This investment is classified within the company’s non-current assets as a fair value through other comprehensive income (FVOCI) investment.
Following the success of the listing process, the company indicates that this initial public offering may lead to the reclassification of its investment in SpaceX from Level 3 to Level 1 within the fair value hierarchy in accordance with IFRS 13, given that the shares are now traded in an active market. The investment will be valued in the future at fair value based on the prevailing share price in each financial reporting period.
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