Alwaleed's Kingdom Gains Most Since 2014 After Prince Is Freed
Tehran (KNA) - Kingdom Holding Co. surged after its chairman, Prince Alwaleed bin Talal, was released from the Ritz-Carlton in Riyadh, which served as a prison for billionaires and princes since the nation started its anti-corruption campaign in November
The shares gained 10 percent, the most since November 2014 and the maximum allowed in a day. The billionaire, who also owns stakes in Citigroup Inc. and Twitter Inc., returned home on Saturday after reaching a settlement with authorities, a senior government official said on condition of anonymity. He will remain at the helm of his company, the official said.
Source: Bloomberg