Saudi billionaire to turn holding company public

July 5, 2007 04:03

Saudi billionaire Prince Al-Waleed bin Talal plans to sell shares of his Kingdom Holding company in an initial public offering for 5 percent of the capital, Saudi Arabia's stock exchange said in a statement. Fully owned by bin Talal, the company holds stakes in Rupert Murdoch's News Corp., Fairmont Raffles Hotels, Time Warner, Apple, PepsiCo, Walt Disney Co. and other corporations. The IPO for Kingdom Holding Co. will run from July 10 to July 18 on Saudi Arabia's stock exchange, the Saudi market regulator said Wednesday.

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