Kingdom Holding’s SpaceX stake jumps nearly 53% to $6.8bn after IPO

RIYADH: Saudi Arabia’s Kingdom Holding Co. said the value of its stake in SpaceX has risen to about $6.83 billion following the aerospace and technology company’s debut on the Nasdaq stock exchange. The investment firm, controlled by Prince Alwaleed bin Talal, said in a filing to the Saudi Exchange that SpaceX completed its initial public offering on June 12 at $135 per share and ended its first trading day at $160.95. Kingdom Holding owns 42.4 million shares of SpaceX Class A common stock, representing a 0.34 percent stake in the company.

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