Saudi Sovereign Wealth Fund Adds NC Stock After Nexon... Becomes 'Second Largest Shareholder'

[Asia Economy Reporter Kang Nahum] The Saudi Arabian sovereign wealth fund PIF (Public Investment Fund), known as "oil money," has increased its stake in NCSoft, becoming the second-largest shareholder.

On the 10th, PIF disclosed that it had additionally acquired 563,566 shares (2.57%) of NCSoft stock for approximately 242.39282 billion KRW. PIF had been purchasing NCSoft shares in six separate transactions from February 10 to 16.

As a result, PIF now holds 2,032,411 shares (9.26%) of NCSoft, making it the second-largest shareholder after CEO Kim Taek-jin, who holds 11.9%.

PIF had previously made a large-scale equity investment in Nexon as well. Since its initial investment of over 1 trillion KRW on January 25, PIF's cumulative investment in Nexon has reached 197.04462 billion JPY (approximately 2.1068 trillion KRW).

Led by Crown Prince Mohammed bin Salman, PIF is known to manage a fund worth 500 billion USD (approximately 600 trillion KRW). PIF has not disclosed specific reasons for its investments in domestic game companies beyond stating that they are purely for investment purposes. However, industry insiders believe that the Crown Prince's strong interest in the gaming industry was a decisive factor behind these investments.

This content was produced with the assistance of AI translation services.