The profits of the Public Investment Fund in the stock market recorded strong performance mostly during the first half of this year, with market gains in some of them exceeding 50%, driven by the financial results of those companies and the rise of newly listed stocks.
These gains raised the market value of the fund's ownership by 7.9 percent, equivalent to about 92 billion riyals, to reach 1.17 trillion riyals, with the fund's investments representing 10.7%. Economic reports confirmed that these gains raised the market value of the fund's ownership by 7.9 percent, equivalent to about 92 billion riyals, to reach 1.17 trillion riyals, noting that the fund's investments represented 10.7% of the total market value of local stocks.
The fund's investments represented 10.7% of the total market value of local stocks. The Public Investment Fund, one of the largest sovereign funds in the world, owns stakes in 23 companies listed on the Saudi market directly, led by energy giant Aramco, as well as STC, Ma'aden and Aquapower.
Shares of 20 of the 23 companies in which the fund holds stakes rose, with gains ranging from 1% to 75.3, while the three declining companies recorded slight declines.
