RIYADH: Kingdom Holding Company, chaired by Prince Alwaleed bin Talal, has reported that the market value of its available-for-sale investments reached SR5.867 billion as of Aug. 31, compared to SR4.888 billion for July 2009.
The SR978 million increase in the value has been attributed to the improvement in Citigroup share prices, aggregating 83 percent, and to News Corp., aggregating nine percent, and to the rest of the shares eight percent. Relative to March this year, the price of Citigroup shares rose five-fold from $1 to $5.
“We are pleased by the recovery in the global economy and its favorable impact on Kingdom Holding Company,” Prince Alwaleed said in a statement.
“When compared to February of this year, the improvement in the market value of our available-for-sale investments was even more significant — it amounted to SR2.5 billion or a 75 percent increase,” he added.