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RIYADH: Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, announcing the outcome of the extraordinary general meeting (EGM) held at the Four Seasons Hotel on Wednesday said the company’s number of shares outstanding has been reduced to 3.705 billion shares. With the opening of trading on Tadawul on Saturday, Kingdom Holding’s new share price opened at SR13. For example, a shareholder who on Wednesday owned 170 shares with a value of SR1,300 now owns 100 shares with the same value based on the opening share price. The reduction in the authorized capital together with the transfer of ownership of 180 million from Prince Alwaleed’s own private Citigroup shares to KHC’s shareholders, and the favorable fourth quarter and year end results, in addition to the strong outlook for 2010 and beyond, all reflected positively on the company’s per share price.

Prince Alwaleed said: “Kingdom Holding’s success is due to its sound investment strategy.”

RIYADH: Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, on Wednesday announced the outcome of the company’s extraordinary general meeting (EGM) held at the Four Seasons Hotel here on Wednesday.

The EGM panel was headed by Chairman Prince Alwaleed and included the KHC board members — Talal Al-Maiman, executive director for development and domestic investments, P.J Shoucair, executive director for international investments, Ahmed Halawani, executive director for private equity including Shadi Sanbar who is the CFO of KHC. The panel also included the independent board members of KHC, Khaled Al-Souhem, Ammar A. Alkhudairy and Taher Agueel.

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JEDDAH: Fernvale Investments (Mauritius) Pte Ltd. is making a capital commitment of $75 million to Pan-African Investment Partners II Ltd. (the second Kingdom Zephyr fund, known as PAIP II). This was announced here on Monday by Kingdom Holding Company (KHC).

Fernvale is a wholly owned indirect subsidiary of Temasek Holdings (Private) Ltd.

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JEDDAH: Kingdom Holding Company (KHC) headed by Prince Alwaleed bin Talal has registered a net income of SR155.5 million, an increase of 48 percent when compared to the results of the third quarter of 2009.

Consolidated net income for 12 months totaled SR402.6 million, said the company while announcing the result.

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PANIC-STRICKEN: A family outside the Kingdom Tower after the evacuation on Wednesday. (AN photo by Khaled Al-Khamis)

RIYADH: Police are investigating a bomb hoax that triggered the evacuation of Kingdom Tower, the capital citys landmark skyscraper, on Wednesday evening.

Nothing suspicious was found and the Kingdom Tower was reopened after a brief search, said Mansour Al-Turki, Ministry of Interior spokesman. We confirm that this was a hoax. The building and sites immediately close to it were evacuated as a precautionary measure.

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JEDDAH – Prince Alwaleed Bin Talal, chairman of Kingdom Holding Company (KHC), recently held a series of business meetings in the US and Canada with CEOs and chairmen of prominent international companies in which KHC is a major investor in most of them.

He was accompanied by a delegation from KHC.

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RIYADH: Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), announced on Monday that the value of his recently transferred Citigroup shares to the ownership of KHC had appreciated by SR300 million.

Due to appreciation of the shares from $3.31 to 3.7 on Jan. 5, the value of the newly transferred shares have gone up by SR300 million for the benefit of KHC, Prince Alwaleed told reporters in Riyadh on Monday.

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JEDDAH/AMMAN: Saudi shares gained fresh ground at the beginning of the new year, apparently buoyed by expectations as to the performance of listed firms in 2010. The Tadawul All-Share Index (TASI) climbed 2.27 percent last week, closing at 6,260.90 points.

The Saudi market drew momentum mainly from the petrochemical and banking sectors, particularly SABIC (Saudi Basic Industries Corp.), Samba Financial Group and Al-Rajhi Bank, the Riyadh-based Bakheet Investment Group (BIG) said in its weekly report. SABIC shares surged by 5.45 percent to SR87, Samba by 4.46 percent to SR52.75 and Al-Rajhi Bank by 1.05 percent to SR72 last week.

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JEDDAH: Prince Alwaleed bin Talal has donated shares worth SR2.24 billion ($597.3 million), part of his private stakes in Citigroup, to Kingdom Holding, the company said in a statement on Tuesday. It said the transfer was made free of charge.

Kingdom Holding Company (KHC), chaired by Prince Alwaleed, said it received a donation from the prince in the form of 180 million shares in Citigroup. The value is SR2.24 billion as of end-2009, the company said.

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RIYADH: Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), tops Institutional Investor magazines 2009 list of the 12 of the Middle Easts Most Prominent and Influential Financiers.

The magazine stated: As a barometer of the vertiginous rise and fall of the Gulfs fortunes, few investors can rival Prince Alwaleed…his ambition still makes him one of the most fascinating Gulf investors to watch.

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