An investment fund from Saudi Arabia, Electronic Gaming Development Company, has acquired a 5% stake in Capcom.
Interest from Saudi investment firms in the gaming industry has been increasing tremendously over recent years. It was recently revealed that the Saudi Public Investment Fund could become the majority owner of EA if its proposed takeover deal is completed. Now, Capcom is receiving a significant investment from another Saudi-based entity.
Saudi’s EGDC Owns a 5% Stake in Capcom
A report from GameBiz (via Automaton) reveals that the Saudi investment firm EGDC has acquired a 5.03% stake in Capcom by purchasing 26,788,500 shares. Through the acquisition, the company aims to earn profits from increases in stock prices or dividends. Saudi Arabian Crown Prince Mohammed Bin Salman owns EGDC through the MiSK Foundation, and the company owns 100% of SNK Corporation, the maker of Fatal Fury and King of Fighters.
EGDC’s investment is not the only Saudi investment in Capcom; the Saudi Public Investment Fund also holds a similar stake. A report from Arab News reveals that PIF also purchased 5% stakes in Capcom and Nexon Co. for $1.2 billion back in 2022.
Talking about Saudi investments in gaming, last month it was reported that Saudi’s Savvy Group could reportedly pay $7 billion to purchase Moonton from ByteDance, securing the Mobile Legends: Bang Bang label.
In other news, Capcom’s Resident Evil Requiem has already sold over 6 million copies, making it the fastest-selling game in the series. What are your thoughts on Saudi Arabia’s Electronic Gaming Development Company acquiring a 5% stake in Capcom? Leave your thoughts down in the comments, and join the official Insider Gaming Discord server.
For more information from Insider Gaming, read about Warner Bros. Montreal being affected by multiple layoffs, which could impact future releases. Don’t forget to sign up for our weekly newsletter.
So they own 10% just through 2 separate entities now. They should just buy them out too, the Prince should. Just transfer the 5% the PIF owns to him.