PIF Market Valuation on Tadawul Listed Firms, Reach SR450bln

16 Dec 2021

Maaal Riyadh

اقرأ المزيد

Through Public Investment Fund (PIF) direct stake in as many as 19 firms listed on the Saudi stock exchange, its market value topped SR450 billion ($120 billion), according to Maaal.

PIF value is currently constitutes 4.61% of the overall market value, worth SR9.77 trillion.

This comes after PIF announced a decrease in its stake in the Saudi Telecom Company STC from 69.4% to 64% at the end of the session on December 12, after it successfully sold 120 million shares, representing 6% of the company’s capital, at a price of SR100 per share, and the deposit of the subscribed shares, in the investors’ portfolios on Sunday, December 12, 2021.

Keeping in mind that the mentioned value includes the value of the fund’s direct stake in 19 companies, at a rate of more than 5%.

But, excluding the value of any fund stake, in listed companies of less than 5%, as well as indirect stake, in companies owned by listed companies, in which the fund owns 5% or more.

Despite PIF’s stake decline in stc, the market value of the shares it owns in the company, still worth SR139.52 billion, is still the highest among 19 companies, accounting for 31% of the total market value of the fund’s direct stake, in the market.

The fund’s stake in the Saudi National Bank accounts for 22.48 percent of the bank’s total shares, with a market value of SR101.19 billion, at the end of Tuesday’s session, and in the Saudi Electricity Company accounts for 74.3%, with a market value of SR73.86 billion, followed by its stake, in the Saudi Arabian Mining Company “Ma’aden,” accounts for 67.18% of the total.

HRH Crown Prince has confirmed in a statement following the announcement of the Saudi budget for 202,2 that the PIF invested SR84 billion, domestically, in 2021.

PIF want to spend at least SR150 billion annually on new local projects.

It also aims for the fund and its subsidiaries to contribute a total of SR1.2 trillion, to revamp the the non-oil GDP by the end of 2025.

PIF stake in 19 listed companies, with 5% or +
	Class as on December 12th	Price as of December 14th closing (SR)	Number of shares owned by the fund (in million shares)	Market value on December 14 (in mln Riyal)
Riyad Bank	21.75%	26.5	652.50	17,291.25
TADAWUL GROUP	70.00%	125.8	84.00	10,567.20
Alinma Bank	10.00%	22.9	200.00	4,580.00
The Saudi National Bank	37.23%	60.7	1,667.16	101,196.58
MAADEN	67.18%	73.6	826.71	60,845.94
CERAMICS	5.40%	53.2	4.32	229.82
Gaz and Industrialization	10.91%	58.3	8.18	477.04
ACWA Power	44.16%	76.1	322.85	24,569.16
QACCO	23.35%	76	21.02	1,597.14
SPCC	37.43%	70.8	52.40	3,710.06
Yanbu Cement	10.00%	37	15.75	582.75
EPCCO	10.00%	44.75	8.60	384.85
Dur Hospitality	16.62%	33.4	16.62	555.11
Saudi Real Estate	64.57%	22	154.97	3,409.30
Shipping	22.55%	33.4	88.79	2,965.61
SAPTCO	15.72%	22.5	19.65	442.13
Emmar EC	25.00%	11.68	283.33	3,309.33
ELECTRICITY	74.30%	23.86	3,095.78	73,865.29
STC	64.00%	109	1,280.00	139,520.00
			8,802.63	450,098.55