Saudi Arabia’s PIF invests $235 million in NCSoft

Saudi Arabia’s PIF invests $235 million in NCSoft

Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) bought 563,566 shares in NCSoft for about 290 billion won, which accounts to almost $235 million.

With this latest investment, PIF has become NCSoft’s second-largest shareholder with a 9.26 per cent stake, only behind the company’s founder and CEO Kim Taek-jin with an 11.9 per cent stake.

PIF made the investment through through six transactions this February with a simple investment objective.

Saudi’s PIF announced last month that it had acquired more than 1.4 million shares in NCSoft, equivalent to about 6.7% of its total shares.

Also read: PIF-led consortium to acquire 80% stake in Zain

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.