Saudi's biggest pension fund buys into Sabic
Riyadh, July 11, 2010
The General Organisation of Social Insurance (GOSI), Saudi Arabia's largest pension fund, is listed as a five per cent stake holder in Saudi Basic Industries Corp (Sabic) after Saturday's trading close, stock exchange data showed.
The data from Tadawul's website on Sunday listed for the first time GOSI as among shareholders holding more than 5 per cent in Sabic, the world's most valuable petrochemical company by market value.
The data does not disclose previous stake held by GOSI nor the amount of new shares bought by the fund.
Sabic is due to announce its second-quarter earnings before July 21.-Reuters