PIF Total Stake Valuation on Tadawul Jumps to SR817bln

Learn about as many as 20-listed companies, in which PIF hold*** stakes

HRH Crown Prince announcement of transfer of as much as 4% of the shares of Saudi Aramco to the Public Investment Fund (PIF), bring the number of companies in which the PIF has stake in, to stock to 20, on Tadawul.

Market value of the PIF stake, in the stock exchange jumped to SR817 billion, according to the last closure, in which PIF hold stake at 5% or more, in addition to its share in Aramco.

PIF hold more than 5% of the shares in 19 companies listed on Tadawul, totaling 8.8 billion shares, with a market value of SR518.4 billion, in addition to its shares in Aramco, which has a market value of SR298.4 billion, according to the closing of the stock exchange, last Thursday.

It has stake in 3-bank, namely the Saudi National Bank, Riyadh and Al-Inma, and 4 cement companies, while its share in the Saudi Electricity Company of 74.3% is the highest, followed by STC with 70%.

It is noteworthy that the PIF has transferred its stake in 3 companies: Al-Marai, Nadec and Al-Asmak to Salik, an arm owned by the fund, earlier.

It is noteworthy that Alam company, which is expected to be listed on the Tadawul, is owned by PIF with a stake of 67%.

The transfer of shares from the government to the ownership of the PIF comes as part of the Kingdom’s long-term strategy aimed at supporting the restructuring of the national economy, in line with the Kingdom’s Vision 2030.

It also contributes to supporting the fund’s plans to raise the volume of its assets under management to about SR4 trillion by the end of the year 2025.

The shares of Saudi Aramco transferred to PIF will contribute to enhancing the fund’s strong financial position and high credit rating, in the medium term, as the fund relies on its financing plan on the value of assets and investment returns, from assets under management.

The fund continues to achieve its strategy by maximizing its assets, launching new sectors, building strategic economic partnerships, and localizing technologies and knowledge.

By the end of 2025, the fund aims to pump up to SR1rillion into new projects locally and increase its contribution and subsidiaries in local content to reach 60%. Besides creating more direct and indirect jobs, in the local labor market.

Despite the transfer of part of the shares, the fact is that the Saudi state is still the largest shareholder, in Saudi Aramco, after the transfer process, as it owns more than 94% of the total shares of the company.

The Kingdom is continuing to implement its initiatives to complement the process of economic and financial reforms that it has undertaken, implement economic transformation plans, and provide more investment opportunities for development funds and the private sector, thus contributing to achieving the goals of the Kingdom’s Vision 2030.