Alwaleed bin Talal increases stake in Snapchat to 2.8%

09:38 AM (Mecca time) Argaam
Prince Alwaleed bin Talal

Prince Alwaleed bin Talal

Prince Alwaleed bin Talal bought an additional 15.2 million shares in Snapchat, raising his total stake in the company to 40.8 million shares, equivalent to 2.8% of its total shares, Bloomberg reported.

 

The value of the acquired shares amounted to $133.5 million, based on Snapchat’s share price on Sept. 22.

 

Alwaleed Bin Talal announced in August 2018 the acquisition of a 2.3% stake in Snapchat’s Class A shares, investing SAR 950 million ($250 million), data compiled by Argaam showed.

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