Kingdom Holding Tumbles After Arrest of Billionaire Chairman
- Prince Alwaleed is among Saudi princes, ministers arrested
- Quarterly profit at $66m on income from hotels, investments
Prince Alwaleed Bin Talal Arrested in Saudi Crackdown
This article is for subscribers only.
Shares of Kingdom Holding Co. plunged after billionaire Chairman Prince Alwaleed bin Talal was arrested as part of an anti-corruption purge in Saudi Arabia.
The stock fell as much as 9.9 percent at the open in Riyadh and closed 7.6 percent lower, the lowest since June 2012. The benchmark Tadawul All Share Index erased losses to close 0.3 percent higher.