Brief: Kingdom Holding Announces Latest Development On Its Investment In SpaceX

Space Exploration Technologies

Sun 06:36

June 14 (Reuters) - KINGDOM HOLDING COMPANY 4280.SE:
ANNOUNCES LATEST DEVELOPMENT ON ITS INVESTMENT IN SPACEX
CURRENTLY HOLDS 42.4 MILLION SHARES OF SPACEX CLASS A COMMON STOCK WITH A CARRYING VALUE OF $4.47 BILLION AS OF 31 MAR FINANCIAL STATEMENT
BASED ON FRIDAY CLOSING SHARE PRICE OF USD 160.95 PER SHARE, FAIR VALUE OF KHC'S STAKE IS APPROX USD 6.83 BILLION (SAR 25.60 BILLION)
IN ACCORDANCE WITH IPO TERMS, SPACEX SHARES HELD BY KHC ARE SUBJECT TO A LOCK-UP PERIOD OF UP TO 180 DAYS FROM DATE OF LISTING
GOING FORWARD, INVESTMENT WILL BE FAIR VALUED BASED ON PREVAILING SHARE PRICE AT EACH REPORTING PERIOD
CO NOTES THIS IPO EVENT MAY RESULT IN RECLASSIFICATION OF ITS SPACEX INVESTMENT FROM LEV3 TO LEV1 WITHIN IFRS 13 FAIR VALUE HIERARCHY
Source text: ID:nSSE58whd8
Further company coverage: 4280.SE

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