Saudi Arabia’s General Organization for Social Insurance (GOSI), which oversees the kingdom’s national insurance scheme, reduced its equity in nine Tadawul-listed companies, including Riyad Bank, Safco, and Maaden, according to research conducted by Argaam.
|
Reduced Equity – 2015 |
|||
|
Change |
Current stake |
Previous stake |
Company |
|
(4.90%) |
16.72% |
21.62% |
Riyad Bank |
|
(4.90%) |
5.10% |
10.00% |
Alinma Bank |
|
(4.90%) |
12.20% |
17.10% |
SAFCO |
|
(4.89%) |
15.09% |
19.98% |
Qassim Cement |
|
(4.25%) |
17.26% |
21.51% |
Saudi Investment Bank |
|
(1.60%) |
8.00% |
9.60% |
Maaden |
|
(0.32%) |
8.98% |
9.30% |
Saudi Cement |
|
-- |
Less than 5% |
8.37% |
Yamama Cement |
|
-- |
Less than 5% |
10.00% |
Eastern Province Cement |
Meanwhile, the state-owned organization raised its stakes in Al-Rajhi Bank and Saudi Hollandi Bank (SHB) by 0.08 percent year-over-year.
GOSI now currently owns 10.19 percent of Al Rajhi Bank and 10.50 percent of SHB.
It also purchased 0.05 percent of petrochemical producer Saudi Basic Industries Corp. (SABIC), raising its stake in the firm to 5.70 percent.
Argaam previously quoted Saad bin Abdul Mohsen Al-Fadhli, chief executive of Hassana Investment Co. (HIC), as saying that GOSI had divested stakes in several listed companies to invest in HIC. The move came as part of HIC’s ownership restructuring plan.
In 2009, the Saudi cabinet had approved the establishment of HIC as a state-owned investment fund. HIC primarily invests for its own account and for the account of GOSI in financial instruments by buying or selling in local, regional, and international stock markets. It also has the authority to establish real estate, commercial, and trade projects.
|
Increased Equity – 2015 |
|||
|
Change |
Current stake |
Previous stake |
Company |
|
+0.05% |
5.70% |
5.65% |
SABIC |
|
+0.08% |
10.19% |
10.11% |
Al-Rajhi Bank |
|
+0.08% |
10.50% |
10.42% |
Saudi Hollandi Bank (SHB) |
|
-- |
5.27% |
Less than 5% |
SIIG |
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