Boeing, Citi and Facebook stakes bought by Saudi Arabia wealth fund

Saturday, 16 May 2020Newsdesk

Saudi Arabia's sovereign-wealth fund bought billions of dollars of stock as the global pandemic took root, reporting significant stakes on Friday in companies including BP Plc, Boeing Co., Citigroup Inc. and Facebook Inc.

New Delhi, 16 May 2020

As per news report of Gulf News, the Public Investment Fund, which until five years ago was a holding company for government stakes in domestic businesses, disclosed an $827.8 million stake in BP, a $713.7 million investment in Boeing and $522 million positions in both Citigroup and Facebook at the end of the first quarter. Other bets include $495.8 million on Walt Disney Co. and $487.6 million on Bank of America Corp.

Source -Gulf News