The Saudi State Investment Fund’s Share in the Saudi Stock Market Reaches 1.2 Trillion Rials

The economic report showed that the share of the Saudi State Investment Fund in the Saudi stock market was about 1.2 trillion rials, distributed among 22 companies.

Saudi Arabian Sovereign Fund’s Ownership Stake in the Saudi Stock Market

In a report based on data from Tadavul (the Saudi financial market) controlled by its reporting arm, Al-Ektisadiya stated that the Saudi Arabian Sovereign Fund’s ownership stake in the Saudi stock market was about 1.2 trillion rials were distributed among 22 companies after the sale yesterday of its 10.92% stake in Gazco Gas and Production Company through 12 special deals worth 491.2 million rials.

Al-Ektisadiya’s report said that “without Aramco, the fund’s portfolio is 17.2% of the market value of Saudi shares at the end of yesterday’s session, which is 3.07 trillion rials”, noting that if its stake in Aramco is 675.7 billion rials, the fund’s portfolio will reach 1.2 trillion rials (10.5% of the market valued at 11.52 trillion rials), provided that there is no change in the ownership of the fund in 8% of the company, which was transferred from the government to the fund. in February 2022 and April 2023.

About Deal “Hadid”

and about Deal “Hadid” (Saudi Metallurgical CompanyThe fund’s exit from the gas company coincided with the signing of an agreement to buy 100% of Hadid from SABIC, after Hadid acquired 100% of Al-Rajah Steel.

The Fund’s Portfolio

Regarding the fund’s portfolio, Al-Ektisadiya pointed out that “in terms of market value (including Aramco), 6 companies account for 92.1% of the fund’s portfolio, which is about 1.11 trillion rials:

• Aramco: 675.7 billion rials (56.1% of the portfolio).
• STC: 127.4 billion riyals (equivalent to 10.6% of the fund’s portfolio in local shares).
• Maaden company: 100.4 billion rials (8.3% of the portfolio).
• Al-Ahly Bank of Saudi Arabia: 79.9 billion rials (6.6% of the portfolio).
• Saudi Electricity Company: 64.1 billion rials (5.3% of the portfolio).
• ACWA Power: 62.3 billion rials (5.2% of the portfolio).

It is followed by Elm with 45.6 billion rials, Riyad Bank with 19.9 billion rials and Inma Bank with 7.4 billion rials, while “ownership” in the remaining companies is less than 5 billion rials each. company.

In terms of Largest servings:

• The Fund owns shares exceeding 60% in 6 listed companies:
• Saudi Electricity: 74.31%.
• Maaden: 67.18%.
• Science: 67%.
• Saudi real estate: 64.58%.
• CTC: 64%.
• Tadavul: 60%.

Other companies in which the fund owns shares:

• Aqua Power: 44.16%.
• Southern cement: 37.43%.
• National Bank of Saudi Arabia: 37.24%.
• Emaar, economic city: 25%.
• Kassim Cement Company: 23.35%.
• Bahri: 22.55%.
• Riyadh Bank: 21.75%.
• Kingdom Holding: 16.87%.
• Role: 16.63%.
• SAPTCO: 15.73%.
• The Fund has 10% stakes in each of Enma Bank, Yanbu Cement and Vostochny Cement.
• Finally, 5.4% for the “porcelain” company.

It is worth noting that the report is based on holdings of 5% or more of market companies and therefore does not include shares of less than 5% in companies listed on the Saudi market, if any.

Source: The Economist