Thursday 24 May
Powered by Ajaxy
BILYONARYOsaudi prince release Jan 29, 2018 @ 11:29

Shares of Saudi Prince Al-Waleed bin Talal’s Kingdom Holding surge after his release


By  Agence France-Presse

Shares in Saudi billionaire Prince Al-Waleed bin Talal’s Kingdom Holding surged on Sunday after he was released following three months of detention.

The share price of the company, 95 percent of which is owned by Prince Al-Waleed, rose the maximum allowed 10 percent at the start of the week’s trading, regaining its level from before the arrest.

The share price dropped sharply when Prince Al-Waleed was arrested in November in an anti-corruption drive by the government, but had partially regained some of the losses.

Prince Al-Waleed was the most high-profile detainee among 350 suspects rounded up, including business tycoons and ministers, who were held in Riyadh’s luxury Ritz-Carlton hotel.

The prince was released following an undisclosed financial agreement with the government, similar to deals that authorities struck with most other detainees in exchange for their freedom.

Kingdom Holding, traded on the Saudi Tadawul All-Shares Index (TASI) has been one of Saudi Arabia’s most important investors with shares in US tech giant Apple and social media site Twitter, among others.


Tags: , , ,

Related Stories
Twitter on Thursday urged its more than 300 million users to change their passwords, saying
Twitter announced a deal Monday to collaborate with Disney on content, particularly live events from
Twitter reported its second consecutive quarterly profit Wednesday, boosting the outlook for the messaging platform
The CEO of Starbucks has apologized for an incident at one of the mammoth chain's


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.