Kingdom Holding invests additional SAR 228.2 mln in M&G plc

04/05/2023 Argaam

Kingdom Holding invests additional SAR 228.2 mln in M&G plc

Logo of Kingdom Holding Co.

Kingdom Holding Co. (KHC) announced an additional investment of SAR 228.2 million (£48.6 million) in M&G plc, one of the largest insurance and asset management companies in Europe.

 

In a statement to Tadawul, KHC said it increased ownership in M&G to 6.4% from 5.3%. 

 

This step aligns with the company’s strategy that aims to build meaningful stakes in prominent companies that are considered market leaders in their field.

 

It also comes in line with the company’s objectives to diversify its investments into new and promising sectors, KHC added.

 

In 2022, KHC invested SAR 1.01 billion (£224.4 million) in M&G, Argaam reported.

 

The UK-based M&G was founded in 1848 as one of the largest savings and asset management firms in Europe with more than $370 billion in assets under management (AUMs), serving more than five million customers across 28 markets.

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