Kingdom Holding rolls over 4.85 mln shares in Twitter at SAR 986 mln

30/10/2022 Argaam

Kingdom Holding rolls over 4.85 mln shares in Twitter at SAR 986 mln

Logo of Kingdom Holding Co.

Kingdom Holding Co. (KHC) announced rolling over its ownership in Twitter, a public-listed company, of 4.85 million shares, valued at SAR 986 million, to privately held shares in the new Twitter-owning entity (private), according to a statement to Tadawul.

 

The move is in line with the company’s long-term strategy, the statement added.

 

There is no relevant financial impact on KHC financial statements.

 

The transaction was completed in conjunction with the transfer of other Twitter shares, including those owned by the private office of KHC Chairman Prince Alwaleed bin Talal.

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