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Saudi State Investment Fund’s Ownership Stake in Saudi Stock Market Valued at 1.2 Trillion Rials: Report

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The Saudi State Investment Fund’s Ownership in the Saudi Stock Market

According to a recent economic report, the Saudi State Investment Fund holds a share worth about 1.2 trillion rials in the Saudi stock market. This ownership is distributed among 22 different companies.

Ownership Stake in Gazco Gas and Production Company

The report, based on data from Tadavul (the Saudi financial market), reveals that the Saudi Arabian Sovereign Fund recently sold its 10.92% stake in Gazco Gas and Production Company. This sale amounted to 491.2 million rials and resulted in the fund’s ownership stake in the Saudi stock market reaching about 1.2 trillion rials.

Portfolio Composition and Market Value

The report further highlights that the fund’s portfolio, excluding its stake in Aramco, accounts for 17.2% of the market value of Saudi shares. This amounts to 3.07 trillion rials. However, if the fund’s stake in Aramco is considered, its portfolio would reach 1.2 trillion rials, which represents 10.5% of the overall market value of 11.52 trillion rials.

Hadid (Saudi Iron and Steel Company) Deal

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The fund’s withdrawal from Gazco Gas and Production Company coincided with its agreement to purchase 100% of Hadid from SABIC. This acquisition followed Hadid’s acquisition of 100% of Ar-Raji Steele.

Key Companies in the Fund’s Portfolio

The report highlights that six companies make up 92.1% of the fund’s portfolio in terms of market value, including Aramco, which represents 56.1% of the portfolio. The other major companies in the portfolio are STC, Maaden, Al-Ahly Bank of Saudi Arabia, Saudi Electricity Company, and ACWA Power.

Largest Ownership in Listed Companies

The fund owns shares exceeding 60% in six listed companies, including Saudi Electricity, Maaden, Alam, Saudi Real Estate, STC Company, and Tadavul. It also holds significant ownership in other companies such as ACWA Power, Southern Cement, National Bank of Saudi Arabia, Emaar Economic City, Qassim Cement Company, Bahri, Riyad Bank, Kingdom Holding, Dur, SAPTCO, Enma Bank, Yanbu Cement, Sharqia Cement, and Keramik.

Please note that the report only includes holdings of 5% or more in market companies and may not account for shares below 5% in listed Saudi market companies.

Source: The Economist

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