DUBAI, July 21 (Reuters) - Saudi Arabia’s Kingdom Holding , the investment vehicle of billionaire Prince Alwaleed bin Talal, said on Saturday its second quarter net profit rose by 9.4 percent year-on-year to 178.9 million riyals ($47.70 million).
Kingdom Holding has minority stakes in some of the world’s top companies. Aside from being one of the largest shareholders in Citigroup, it also owns stakes in Rupert Murdoch’s News Corp and microblogging site Twitter.
The firm is planning to issue a local currency bond. No date has been set for the bond but Banque Saudi Fransi and Deutsche Bank have been mandated to arrange the transaction. ($1 = 3.7502 Saudi riyals) (Reporting by Amena Bakr)