Social Insurance Transfers Part of its Stake, in Listed Companies, to several Entities, under Hassana Supervision

Hasana Investment Company, the investment arm of the General Organization for Social Insurance, explained that it has restructured investments, in the Saudi Tadawul stock exchange, in a process of implementing a long-term investment strategy, which was recently revised, to keep pace with the change in the size of the institution’s investment portfolio, as a result of the transfer of the ownership of the Public Pension Agency to the General Organization for Social, in one of the largest investment portfolios transfer, in the Saudi market.

Restructuring plan consisted of transferring part of the “Social Insurance” stake in some local companies listed in the stock exchange to several entities it wholly own, under the supervision and management of the Hassana Company, where the transfer process took place after obtaining the required approvals from the relevant authorities, Hasana Company indicated.

Noting that the impact of this operation will cause a change in the ownership of the institution registered, in its name on the Tadawul website for 30 companies, operating in various market sectors, which is expected to appear today, Thursday, January 13, 2022.

The plan to restructure the ownership portfolios aims to implement the investment strategy, achieve its long-term goals and develop the “Social Insurance’s” investment returns, Saad bin Al-Fadhli, CEO of Hassana Company commented, adding that this step will be reflected on the market, in terms of an increase in the number of free shares, which in turn will enhance the weight of the Saudi market among emerging markets’ indices.

Hessanah is also considering allocating part of these assets to be managed by financial market institutions.

Consequences of such a move will contribute to the realization of many initiatives of the Financial Sector Development Program, he concluded.

It is noteworthy that Hassana Company is the investment arm of the General Organization for Social Insurance, in the Kingdom of Saudi Arabia, wholly owned by the General Organization for Social Insurance, which in turn is the entity concerned with managing investments of retirement and social insurance programs for all workers in the public and private sectors, in the Kingdom.