Saudi pension fund ups stakes in listed firms
Riyadh, August 31, 2009
The General Organisation for Social Insurance (Gosi), Saudi Arabia's largest pension fund, has raised stakes in six listed firms, including four it picked in a similar move in July.
Data from the stock exchange website showed that state-owned Gosi increased its stake in Maaden to 7.2 per cent from 6.3 per cent, in Saudi Fertilizers Company to 14.5 per cent from 14.2 per cent and in Savola Group to 10.3 per cent from 9.8 per cent.
Other increases included Southern Province Cement to 13.6 per cent from 13.1 per cent, Qassim Cement to 18.6 per cent from 17.5 per cent and property developer Jabal Omar Development Company to 5.7 per cent from 5 per cent previously, the data showed.
The data does not show the price Gosi paid for the stocks.-Reuters