Kingdom Holding Co.’s current share price is unfair, Chairman Alwaleed bin Talal said on Sunday during a general assembly meeting attended by Argaam.
“It’s out of the firm’s control that the stock is trading below subscription price. There’s a cloud that stops some shareholders from trading company shares properly,” Prince Alwaleed said.
He also noted that he doesn’t interfere in the stock price, but has majority stake in the company and is as affected as the other shareholders.
“We are currently working on removing that ‘cloud’ to reflect the real price the stock deserves,” Prince Alwaleed stated.
“Kingdom Holding has been productive and has achieved profits, yet the stock didn’t reflect that,” he added.
According to data compiled by Argaam, Prince Alwaleed had told Rotana Khalijia TV in March that the market needs more transparency, so he will be disclosing more details about the Ritz-Carlton settlement.
Kingdom Holding’s stock closed at SAR 7.70 on Sunday, June 23.
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