BRIEF-Kingdom Holding Announces Latest Development On Its Investment In SpaceX

SpaceX

SpaceX

SPCX

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June 14 (Reuters) - KINGDOM HOLDING COMPANY 4280.SE:

  • ANNOUNCES LATEST DEVELOPMENT ON ITS INVESTMENT IN SPACEX

  • CURRENTLY HOLDS 42.4 MILLION SHARES OF SPACEX CLASS A COMMON STOCK WITH A CARRYING VALUE OF $4.47 BILLION AS OF 31 MAR FINANCIAL STATEMENT

  • BASED ON FRIDAY CLOSING SHARE PRICE OF USD 160.95 PER SHARE, FAIR VALUE OF KHC'S STAKE IS APPROX USD 6.83 BILLION (SAR 25.60 BILLION)

  • IN ACCORDANCE WITH IPO TERMS, SPACEX SHARES HELD BY KHC ARE SUBJECT TO A LOCK-UP PERIOD OF UP TO 180 DAYS FROM DATE OF LISTING

  • GOING FORWARD, INVESTMENT WILL BE FAIR VALUED BASED ON PREVAILING SHARE PRICE AT EACH REPORTING PERIOD

  • CO NOTES THIS IPO EVENT MAY RESULT IN RECLASSIFICATION OF ITS SPACEX INVESTMENT FROM LEV3 TO LEV1 WITHIN IFRS 13 FAIR VALUE HIERARCHY

Source text: ID:nSSE58whd8

Further company coverage: 4280.SE


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