Riyadh – Mubasher: Kingdom Holding Company has invested around SAR 1 billion (£224.39 million) in M&G, a UK-based insurance and asset management company.
This investment is in line with the Saudi company's strategy to invest in global market leaders and further diversify its exposure in new and promising sectors, according to a bourse filing on Thursday.
Founded in 1848, M&G is one of the largest savings and asset management companies in Europe with more than $370 billion in assets under management (AuM).
It is noteworthy to mention that during the first three months (3M) of 2022, Kingdom Holding Company registered net profits after Zakat and tax worth SAR 5.92 million, down 6,407.37% year-on-year (YoY) from SAR 91.06 million.
