KHC’s stock drops to lowest level in 7yrs

KHC’s stock drops to lowest level in 7yrs
KHC’s stock drops to lowest level in 7yrs
Kingdom 4280 -1.58% 8.70 -0.14

Riyadh – Mubasher: Kingdom Holding Company’s (KHC) stock slid 10% to SAR 8.1, with a liquidity of SAR 13.8 million on Tuesday on the Saudi Stock Exchange (Tadawul), by 1:13 pm KSA time, registering its lowest level in seven years, or since 3 July 2011.

In the meantime, Tadawul All Share Index (TASI) retreated 1.4% or 98.9 points to reach 6,885.8 points.

The drop of the stock occured as the Kingdom’s government on Saturday arrested 11 princes, as well as several former and current ministers in an anti-corruption crackdown.

One of the arrested person is Alwaleed bin Talal, the chairman of KHC, who has investments and firms which cover a wide range of sectors across globe.

Bin Talal has investments in Twitter, Citigroup, and News Corp, among others.

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Source: Mubasher

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