Saudi pension fund buys Sabic stake

12 July 2010

According to data from the Saudi bourse, the kingdom's General Organisation of Social Insurance (Gosi) has acquired a 5% stake in Saudi Basic Industries Corp (Sabic), Reuters has reported. Data from Tadawul's website shows Gosi among the shareholders of Sabic. The data does not disclose the previous stake held by Gosi nor the amount of new shares bought by the fund. A 5% stake in Sabic is worth SR13.43bn ($3.58bn) based on Saturday's closing price.

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