News Bit: Saudi Arabia buys 5% of Nintendo
Saudi Arabia's Public Investment Fund (PIF) has purchased a stake in Nintendo, according to Bloomberg. The government established the PIF scheme, which has gradually purchased stakes in video game companies over the last two years. These investments include Capcom, EA, and Activision Blizzard.
The PIF is a long-term financial investment fund for the country as it seeks to transition to more sustainable sources. Saudi Arabi acquired a 5.01 percent stake in Nintendo through the PIF scheme. Nintendo has stated that they only found out about the purchase through news reports and have declined to make any public comments about it.
While it may appear strange that Nintendo was unaware of the exchanges, the company's shares are publicly traded without Nintendo's knowledge. Anyone could purchase a share, and Nintendo would be completely unaware. The 5% stake is a minuscule amount that means nothing to Nintendo.
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