IssuerAnnouncementDetailsV2Portlet
Kingdom Holding Co. Announces Purchase of Citi Group shares at the value of SAR 1,685,868,750 (USD 449,565,000) from HRH Prince Alwaleed bin Talal bin Abdulaziz al Saud.
Element List | Explanation |
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Introduction | Kingdom Holding Company (KHC) announces the purchase of Citi Group shares owned by the company’s chairman, HRH Prince Alwaleed bin Talal bin Abdulaziz al Saud, with a total value of SAR 1,685,868,750 (USD 449,565,000) |
Transaction Details | The company purchased Citi Group shares valued at SAR 1,685,868,750 (USD 449,565,000) from a related party, increasing (KHC) ownership in Citi Group from 1.63% to 2.2% |
Transaction Value | SAR 1,685,868,750 (USD 449,565,000) |
Transaction Terms | None |
Parties of the Transaction | 1- HRH Prince Alwaleed bin Talal bin Abdulaziz al Saud, Chairman of Kingdom Holding Company 2- Kingdom Holding Company |
Transaction Funding Method | Company's internal resources |
Transaction Execution Date | 2023-11-28 Corresponding to 1445-05-14 |
Description of the Business of the Asset forming the Subject Matter of the Transaction | Banking and financial services |
Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Citi Group is a public company listed on the New York Stock Exchange; all financial information can be found here: https://www.citigroup.com/global/investors/annual-reports-and-proxy-statements |
Transaction reasons | The transaction supports the company's strategic plans. |
Expected Impact of the Transaction on the Company and Its Operations | KHC is an investment holding company, and this transaction is in the ordinary course of business |
Related Parties | HRH Prince Alwaleed bin Talal bin Abdulaziz al Saud, Chairman of Kingdom Holding Company |
Additional Information | None |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.