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Kingdom Holding Co., controlled by Saudi Arabia's Prince Alwaleed bin Talal, has stated that it has invested 12.8 billion riyals ($3.4 billion) in new sectors over the past two years.
In a bourse disclosure to the Saudi Tadawul exchange on Thursday, the company said the investments during the period Q2 2020 to Q2 2022, were made in the following sectors: integrated communication, alternative financing, mobility services, energy, digital media & entertainment, artificial intelligence e-commerce, insurance & asset management, commodities & funds.
These new sectors will complement the ones already part of the KHC portfolio such as banking, real estate, healthcare, education, petrochemical, hotel management, hotel real estate, social media, mining & commercial aviation, it added.
Last month, Prince Alwaleed sold 16.87 percent of Kingdom Holding to the Saudi sovereign wealth fund, the Public Investment Fund, for 5.68 billion riyals ($1.51 billion).
(Writing by Brinda Darasha; editing by Seban Scaria)
