GOSI investments in 68 companies hit SR54bn

GOSI investments in 68 companies hit SR54bn
Updated 24 December 2014

GOSI investments in 68 companies hit SR54bn

GOSI investments in 68 companies hit SR54bn

Domestic investments of the General Organization for Social Insurance (GOSI) exceeded SR54 billion in 1434 covering nearly 68 companies, local media said quoting a report released by GOSI.
The investments were distributed in six sectors including banking, industry, retail and real estate, telecommunications, cement, and insurance sectors, the report said.
The banking sector captured the biggest portion of the GOSI investments valued at SR19.51 billion, or 35.9 percent of the overall investments, in over 10 banks. The GOSI retains more than 840 million shares of the banks with their market capitalization reaching SR41.70 billion, the report said.
The industrial sector captured the second largest GOSI investments at SR19.09 billion, or 35.1 percent, which are distributed in 14 industrial projects with shares over 673 million shares with their market capitalization estimated at SR42.96 billion, the report said.
Meanwhile, investments of the GOSI in the cement sector were estimated at SR 3.50 billion, or 6.5 percent, in six cement plants with 91 million shares with their market capitalization estimated at SR 8.42 billion.
The telecom sector captured 12.9 percent of the GOSI domestic investments valued at SR 7.03 billion in two companies having 231.3 million shares with their market capitalization valued at SR 14.52 billion, the report said.
Retail and real estate sector took 8.7 percent of the GOSI investments valued at SR 4.75 billion while their market capitalization hit SR 6.37 billion, the report said.
On the other hand, the insurance sector captured 9 percent of the GOSI investments valued at SR493.42 million in 22 million shares with their market capitalization reaching SR 489.43 million, according to the report.
In the meantime, the market capitalization of the GOSI investments (SR 54bn) grew by 111 percent to hit SR 114.48 billion, the report said.