Kingdom Holding Company, Chaired by HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, reported that the market value of its available for sale investments reached SAR 5,867 million as of 31 Aug 2009 compared to SAR 4,888 million for July 2009.
The increase in the value of SAR 978 million was attributed to the improvement in Citigroup share price aggregating 83% and to News Corp. aggregating 9% and 8% for the balance of the shares. Relative to March of this year, Citigroup share price increased 5 fold from $1 to $5.
Prince Alwaleed commented: “We are pleased by the recovery in the global economy and its favorable impact on Kingdom Holding Company. 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 SAR 2.5 billion or 75% increase.”