Riyadh, September 05, 2023, The National Gas and Industrialization Company ("GASCO" or the "Company") has completed the sale of the Public Investment Fund's (10.92%) interest, or 8,186,455 shares, through a private sale transaction for SAR 491,19 million. In its capacity as a manager, Jadwa Investment Company purchased shares for the portfolios of its managed investment funds and customers. This transaction comes as part of PIF's strategy to recycle its capital by selling stakes in mature companies and reinvesting such proceeds in developing new and promising sectors in the local economy," said Eyas AlDossari, Head of Investment Advisory in the MENA Investments Division. The transaction structure demonstrates how substantial the Saudi capital market's domestic institutional investor base is.
