Saudi's Kingdom, Alwaleed buy $500 mln in GM IPO

Newswire

JEDDAH, Nov 23 (Reuters) - Saudi investment firm Kingdom Holding and its chairman Prince Alwaleed bin Talal have subscribed $500 million in General Motors' initial public offering (IPO), Kingdom Holding said on Tuesday. "Kingdom Holding and its chairman Prince Alwaleed bin Talal subscribed in the initial offering of General Motors for $500 million, which represents 1 percent of the value of the company," the firm said in a statement. (Reporting by Asma Alsharif; Editing by Firouz Sedarat)

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