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Asharq Al-Awsat

Technology

Asharq Al-Awsat

Saudi Arabia’s wealth fund takes 8% stake in Swedish gaming firm embracer

Embracer Saudi Arabia PIF

Saudi Arabia's sovereign wealth fund is taking an 8.1% stake in gaming group Embracer via a direct share issue.

Saudi Arabia's sovereign wealth fund is taking an 8.1% stake in gaming group Embracer via a direct share issue as part of a push into the games and esports industry.

Sweden's Embracer said in a statement it was issuing 99.9 million shares at a price of 103.47 per share to Savvy Gaming Group which is owned by Saudi Arabia's $600 billion Public Investment Fund (PIF), raising 10.3 billion Swedish crowns ($1.05 billion).

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