Kingdom Holding jumps on SpaceX stake disclosure, with fair value at $6.83 bln
Sun 08:53
BUZZ-Kingdom Holding jumps on SpaceX stake disclosure, with fair value at $6.83 bln June 14 (Reuters) - ** Saudi investment firm Kingdom Holding Company 4280.SE surges as much as 5.8% to 15.26 riyals before paring gains to be up 2.8%
** Company says it holds 42.4 mln shares of SpaceX SPCX.O Class A common stock, carried at $4.47 bln (16.76 bln riyals) as of its March 31 financial statements
** Company adds that based on SpaceX's Friday closing price of $160.95 per share, the stake's fair value is about $6.83 bln (25.60 bln riyals)
** As of last close, stock up over 80% YTD
** Saudi Arabia's benchmark index .TASI up 0.7%
(Reporting by Amna Mariyam in Bangalore)
((amna.mariyam@thomsonreuters.com; 8448625620))
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