Thndr Claps
  • Egypt
  • Saudi
  • Thinkers
  • العربية
No Result
View All Result
Thndr Claps

Thndr Claps » Saudi Claps » Funds 🤑 » PIF sells a stake in “Tadawul Group” 💰

PIF sells a stake in “Tadawul Group” 💰

by Omar El Shorafa
November 13, 2022

The Clap
The Saudi Public Investment Fund (PIF) revealed that it sold a 10% stake, around 12 million shares, of Tadawul Group (1111) to institutional investors.

The Deets
The total value of the sale is SAR 2.3 billion, with the shares being sold at SAR 191 per share. This makes the sale the second-largest accelerated book builder in the Gulf region.

The PIF still holds a 60% stake, or around 72 million shares, in Tadawul Group.

So What
Tadawul Group’s stock fell by more than 9%, the biggest loser during Sunday’s trading session after the PIF announced the conclusion of the deal.

Now What
The agreement is in line with the PIF’s efforts to cut its ownership in some businesses while investing $40 billion locally each year until 2025 to diversify the Saudi economy and support KSA’s projects, such as the city of “NEOM.”

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)

Related Posts

10.6 million shares transferred to Al Rajhi Insurance Bahrain
Insurance 🏥

10.6 million shares transferred to Al Rajhi Insurance Bahrain

by Ahmad Diaaeldin
November 28, 2023
PIF secures syndicated loan with Korea Trade Insurance
Economy 🏙

PIF secures syndicated loan with Korea Trade Insurance

by Ahmad Diaaeldin
November 28, 2023
NCLE recommends distributing cash dividends
Earnings 📈

NCLE recommends distributing cash dividends

by Shams Abbas
November 27, 2023
Retal intends to develop 897 residential units in Jubail 🏠
Real Estate 🏡

Retal intends to develop 897 residential units in Jubail 🏠

by Salma Arafa
November 27, 2023
SEVEN unveils its ‘fifth entertainment destination’ in Aseer 🎊
Entertainment 🎭

SEVEN unveils its ‘fifth entertainment destination’ in Aseer 🎊

by Salma Arafa
November 27, 2023
Northern Border Investment Forum to offer opportunities 💰
Funds 🤑

Northern Border Investment Forum to offer opportunities 💰

by Ahmad Diaaeldin
November 26, 2023

Website

Community

Blog

Learn

© Thndr. All rights reserved

No Result
View All Result
  • Egypt
  • Saudi
  • Thinkers
  • العربية

Disclaimer: Thndr does not provide investment advice, individual investors are responsible for their own decisions or can seek independent advice. The value of investments can go up and down. Thndr is a trading name of Thndr Securities Brokerage which is authorised and regulated by the Financial Regulatory Authority (FRA). Registered in Egypt (no. 804)..© Thndr. All rights reserved

 

Hello👋 We want you to be able to express your opinions on anything and everything finance and economics related to the Egyptian and US markets.

This is why we introduced Thndr Thinkers💭

Let’s go through some housekeeping notes before you jump into publishing your article to all Thndr Claps readers!

Type of Content📝 We want to see market-relevant content that shows good analysis, please! Base your articles on facts 

Don’t be shy, explain🗣 Flex your knowledge to us, and we’ll share it with all the readers!

Be Original🙏 Please don’t copy. No one likes a copycat. All submissions are welcome as long as they’re yours 

Make your title attractive🤩 A title is like the cover of your book. Attractive enough to make you look at the book but also clear enough to tell you what the book is about.

Clean🧹 We’re all humans and we all make mistakes. But please try and clean up the article so it’s clear for all the readers 

No promotional content🚫 We don’t publish promotional content.

Any questions about becoming a Thndr Thinker? Email thndrclaps@thndr.app and we’d be happy to help!

Normally, your article will be published within 24 hours of submission (if you followed the guidelines)