Alwaleed, Kingdom invest $400 mln in Glencore IPO
Kingdom Holding investment represents 3.6 per cent in addition to existing share worth $600 million.
May 24, 2011 10:33 by p.deleon
Saudi billionaire Prince Alwaleed and his investment firm Kingdom Holding invested $400 million in Glencore International’s initial public offering, the firm said on Monday.
“(The investment) represents 3.6 per cent of the value of shares offered, Kingdom Holding’s share is worth $60 million,” Kingdom said. (Reporting by Asma Alsharif; Editing by Dan Lalor)