Almarai Co. said in a bourse statement on Sunday that Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, owned 163.23 million shares in the company--representing a 16.32 percent stake in the total capital-- as of Oct. 12.
The Kingdom’s sovereign wealth fund is the third largest shareholder in Almarai following Tadawul-listed Savola Group which holds a 34.52 percent stake in the company (345.2 million shares).
Prince Sultan bin Mohammed bin Saud Al Kabeer, Almarai’s founder, also owns a 23.69 percent shareholding in the company, or 263.9 million shares.
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