PIF raises stake in Maaden to 65%

09/06/2018 Argaam

 

Saudi Arabia’s Public Investment Fund (PIF) raised its stake in Saudi Arabian Mining Co. (MAADEN) to 65.44 percent, or about 764.64 million shares, as of June 7, the miner said in a statement to Tadawul.

 

The move will not affect the company’s current strategy, business process or projects, the statement added.

 

The following table shows ownership percentages before PIF hiked its stake:

 

MAADEN major shareholders before increase

Owner

Ownership %

Shares (mln)

Public Investment Fund (PIF)

49.99 %

584.12

General Organization for Social Insurance

7.98 %

93.24

Public Pension Agency

7.45 %

87.05

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