UPDATE 1-Saudi's Kingdom, Alwaleed buy $500 mln of GM IPO

Newswire

* Saudi company, chairman invest $500 mln in GM's IPO * Cite global strength of GM brand, price, growth prospects (Adds quotes, background) JEDDAH, Nov 23 (Reuters) - Saudi investment firm Kingdom Holding and its Chairman Prince Alwaleed subscribed $500 million to General Motors' initial public offering, Kingdom Holding said on Tuesday. "The decision of Kingdom Holding Co and Prince Alwaleed to invest in (GM) was based on the global strength of General Motors' brand, the relatively ...

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