By Sickr on November 13, 2024

Bloomberg is reporting today that Saudi Arabia's sovereign wealth fund the Public Investment Fund has once again reduced its stake in Nintendo. This time the stake had been reduced to 6.3% from 7.5%. This follows the Public Investment Fund selling more than 17 million shares over a six-week period to October. Nintendo shares fell around 4% in Tokyo following the news as investors reacted. It's common knowledge that Saudi Arabia has been purchasing stakes in Japanese and Korean gaming companies in a $38 billion push to become a video games hub in the Middle East.