Nintendo Shares Rise on Report of Saudi Wealth Fund Weighing Larger Stake
By Ronnie Harui
Nintendo's shares climbed after a local media report over the weekend that Saudi Arabia's sovereign-wealth fund is considering increasing its stakes in Japanese game companies, including the maker of Super Mario and Pokemon games.
The stock jumped as much as 4.4% to 8,080 yen in Monday trading, equivalent to $54.33, and was recently 4.2% higher at 8,071 yen.
Prince Faisal bin Bandar bin Sultan Al Saud, vice chairman of the Saudi Arabia Public Investment Fund's gaming unit, Savvy Games Group, said in a recent interview with Kyodo News that "there are always opportunities" for additional investment.
The Public Investment Fund holds an 8.58% stake in Nintendo, according to data compiled by FactSet.
Write to Ronnie Harui at ronnie.harui@wsj.com
(END) Dow Jones Newswires
October 07, 2024 00:15 ET (04:15 GMT)
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