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FINANCIAL NEWS
Saudi Gosi takes 5% stake in Sabic
12 Jul 2010
(MENAFN) Saudi Arabia’s largest pension fund, the General Organisation of Social Insurance (Gosi), was listed as a 5 percent stakeholder in Saudi Basic Industries Corporation (Sabic), Reuters reported.
Data from Tadawul’s website listed for the first time Gosi as among shareholders holding more than 5 percent in Sabic, the world’s most valuable petrochemicals company by market value.
The data does not disclose previous stake held by Gosi or the amount of new shares bought by the fund.
According to the bourse website, when a large-sale order receives a price based on prevailing market conditions, the transaction does not get disclosed to the public.
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