Kingdom Holding's Investment in JD.com Increased by 130% on First Day of
Kingdom Holding Success in JD.com Follows Twitter's
RIYADH, Saudi Arabia, May 27, 2014
RIYADH, Saudi Arabia, May 27, 2014 /PRNewswire/ --Shares of Jingdong Inc.
(JD.com) began trading on the Nasdaq on Thursday, May 22nd, 2014 under the
symbol 'JD' in which Kingdom Holding Company (KHC) and its Chairman HRH Prince
Alwaleed Bin Talal Bin Abdulaziz Alsaud hold an equally combined stake of 2.5%
of its capital.
Chinese online retailer JD.com has raised $1.8bn in its US share sale at the
price of $19 per share. KHC and HRH Prince Alwaleed Bin Talal Bin Abdulaziz
Alsaud combined investment increased its value by 130% at closing on the first
day of trading.
In February 2014, JD.com exceeded annual sales of $16.7 billion.
In 2013, KHC and Prince Alwaleed acquired an equal strategic stake in JD.com
its combined value at $250 million. This investment is in line with KHC's
diversified and unique investment strategy following Kingdom Holding and
Prince Alwaleed's combined investment in Twitter.
Prince Alwaleed commented saying: "Our deal solidifies the strategic
relationship between Saudi Arabia and China. The acquisition is also an
extension of the initiative of the Custodian of the Two Holy Mosques to
support the business alliance between Saudi Arabia and The People's Republic
of China. This was highlighted during the visit of the then Chinese President
Hu Jintao to Saudi Arabia."
The Founder and CEO of Jingdong Inc. (JD.com), Richard Liu said, "We
appreciate Kingdom's support and we look forward to a long lasting and
KHC has indirect presence in China via Citibank. Moreover, HRH's investment in
the entertainment sector in China includes Disneyland Hong Kong and in the
hotel sector via Four Seasons Hotels and Fairmont Raffles Hotel.
In 2006, Prince Alwaleed had met with the Chinese President Hu Jintao at the
Royal Guest Palace in Riyadh during his official visit to Saudi Arabia.
Founded in 1980, KHC is a publicly traded company which was listed on Tadawul
(the Saudi Stock Exchange) in 2007. KHC is one of the world's most successful
and diversified business organizations, highly respected in the field of
investments and recognized as an elite player in the Arabian Gulf region, and
internationally. The Company is recognized as one of the largest foreign
investors in the United States. KHC's portfolio has its major interests in
investment categories ranging from luxury hotels management hotel companies
(Four Seasons Hotels and Resorts, Fairmont Raffles Holding Intl and Mövenpick
Hotels, Resorts AG and Swissotel) and real estate (Kingdom Tower and project
in Jeddah and Kingdom Riyadh project) to hotel real estate investments such as
(The Plaza, New York, Savoy Hotel, London and Four Seasons, George V Hotel,
Paris and other hotels). KHC also has investments in Petrochemical (Tasnee)
Media and Publishing (News Corporation and Saudi Research and Marketing
Group), as well as in Entertainment (Euro Disney S.C.A). In addition, Finance
and Investment services (Citigroup), Social Media and Technology (Twitter and
Jingdong). Moreover, the Company has investments in Education (Kingdom
Schools), Health Care (Medical Services Projects Company), Aviation (NAS Saudi
Arabia) and Agriculture (Kingdom Agricultural Development Company - KADCO
For more information contact:
Kingdom Holding Company
SOURCE Kingdom Holding Company (KHC)
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