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Saudi Exchange Sees Major Ownership Shifts on July 15
Saudi Exchange filings show Al Sagr National Insurance boosted its stake to 14.41%, while PIF trimmed SPIMACO holdings. Al Alamiya shareholders fell below the 5% threshold.
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Major ownership changes hit the Saudi Exchange on July 15, with several companies reporting significant shifts in shareholder stakes.
Al Sagr Cooperative Insurance Co. saw its largest shareholder, Al Sagr National Insurance Co., increase its stake to 14.41% from 9.41%, a 5% buy that signals a vote of confidence from the parent firm, according to exchange filings.
Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) reported that its major shareholder, the Saudi Arabian Public Investment Fund (PIF), reduced its holding to 13.99% from 15.99%, a 2% sell-down that traders said could reflect portfolio rebalancing rather than a fundamental view on the drugmaker.