Saudi’s Kingdom Holding pays $50 million to raise Twitter stake to 0.72 percent

07 Oct, 2015 2:17 pm

DUBAI – Saudi Arabia’s Kingdom Holding has paid $50 million to double its stake in microblogging site Twitter Inc, the Riyadh-based company said on Wednesday.

Kingdom Holding, the investment firm owned by billionaire Prince Alwaleed bin Talal, now owns 0.72 percent of Twitter, having originally invested $50 million in the tech company in 2011.

Twitter listed on the New York Stock Exchange in November 2013. Its market capitalization is $18.7 billion, according to Reuters data. -Reuters

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