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Kingdom Shares Recover From Shock of Prince Alwaleed's Detention

  • Shares advance 13% since his release from the Ritz-Carlton
  • Alwaleed was detained as part of Saudi corruption crackdown
Bloomberg business news
Bloomberg’s Yousef Gamal El-Din reports on the future of Saudi Prince Alwaleed bin Talal.(Source: Bloomberg)
Updated on

After being detained for more than two months, he’s out. And Prince Alwaleed’s Kingdom Holding Co. shares surged back to where they were before Saudi Arabia started its crackdown on corruption last year.

Kingdom Holding rose 2.5 percent to 10.29 riyals on Monday, exceeding the level it was trading at before Saudi Arabia shocked investors with the arrest of dozens of high-profile businessmen and princes last year. About 3 million shares were exchanged, the most since February 2016.