Saudi investment firm Kingdom Holding Co. (KHC) disclosed that it has made investments worth more than SAR 12.8 billion ($3.4 billion) since 2020, including in major Russian energy companies.
Kingdom's total investments amounted to SAR 4.33 billion in 2020, SAR 3.75 billion in 2021 and SAR 4.73 billion in 2022, a filing on Tadawul bourse on Sunday showed.
The company, owned by Saudi billionaire Prince Alwaleed Bin Talal, bought depository receipts worth a total of SAR 1.974 billion ($527 million) in Russian companies Gazprom PSJC, Lukoil PSJC and Rosneft PSJC in the first six months of this year.
Kingdom Holding Company's investments so far in 2022
Other investments since 2020 included stakes in Spain’s Telefonica SA, France's TotalEnergies SE, Rio Tinto, Alibaba Group Holding Ltd. and Uber Technologies Inc. The most recent purchase was in June this year of a SAR 178 million stake in Hercules Capital Inc.
Kingdom shares closed over 1% higher at SAR9.5 at close of trading on Sunday.
In June, the company said it has invested SAR 12.8 billion riyals in new sectors over the past two years.
The sectors were integrated communication, alternative financing, mobility services, energy, digital media & entertainment, artificial intelligence e-commerce, insurance & asset management, commodities & funds.
In May, Prince Alwaleed sold 16.87% of Kingdom Holding to the Saudi sovereign wealth fund, the Public Investment Fund, for SAR 5.68 billion.
(Reporting by Brinda Darasha; editing by Seban Scaria)