SABIC, Al Rajhi, STC Face Ownership Shifts on June 14

The Saudi stock exchange will see a wave of ownership changes on June 14, with major shareholders adjusting stakes across several listed companies. The moves, disclosed in regulatory filings, span petrochemicals, banking, telecoms, and mining.

Saudi Basic Industries Corp (SABIC) will see its largest shareholder, the Public Investment Fund (PIF), reduce its direct holding by 2.1%. The PIF will transfer the shares to a wholly owned subsidiary, Saudi Arabian Investment Co, which will appear as a new major shareholder on the register. The ultimate beneficial ownership stays within the sovereign wealth fund.

Al Rajhi Bank faces a different shift. The founding family's holding company, Al Rajhi Holding, plans to distribute 1.5% of the bank's shares to individual family members as part of an estate settlement. The distribution breaks a single large block into multiple smaller holdings, each below the 5% disclosure threshold. The bank's free float will increase marginally.

Saudi Telecom Co (STC) will see the Public Pension Agency reduce its stake by 0.8%. The pension fund will sell the shares on the open market over a two-week period starting June 14. The fund said the sale is part of a routine portfolio rebalancing and does not reflect a change in its long-term view of the stock. The sale will be executed through a single broker, which could create temporary downward pressure on the stock during the selling window.

Ma'aden, the mining company, will register a new strategic investor. The Saudi Industrial Development Fund will acquire a 3.2% stake through a private placement. The fund plans to hold the shares for at least three years, signaling long-term support for Ma'aden's expansion plans in phosphate and aluminum.

The ownership changes come during a period of heightened foreign interest in TASI. Net foreign buying in Saudi equities reached SAR 4.2 billion in May, the highest monthly inflow since January, according to exchange data. The June 14 adjustments could create trading opportunities as index funds and active managers adjust their positions to reflect the new shareholder structures.

The STC pension fund sale will run through June 28, with daily volume likely to be disclosed by the broker. The Ma'aden private placement shares will begin trading on June 21.