Kingdom Holding says SpaceX stake could be worth nearly $6bn after IPO

RIYADH: Saudi Arabia’s Kingdom Holding Co. has revealed that it currently owns 0.34 percent of SpaceX’s shares, which has filed for an initial public offering and aims to list on the Nasdaq stock exchange.  

KHC clarified in a statement on Tadawul that the book value of its current stake amounts to SR16.76 billion ($4.47 billion) based on its financial statements at the end of the first quarter, where it is classified under investments at fair value through other comprehensive income.  

The company reviewed the estimated illustrative impact on the fair value of its investment at two different valuation levels: Kingdom Holding’s stake would be worth SR16.76 billion if SpaceX is valued at $1.25 trillion, and SR21.26 billion if valued at $1.75 trillion.  

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