Saudi PIF trims Nintendo stake from 7.5% to 6.3% in second cut of month
A filing with Japan’s Finance Ministry said the move follows the sale of more than 17 million Nintendo shares, which concluded in October.
Saudi Arabia’s Public Investment Fund has trimmed its stake in Nintendo Co. from 7.54% to 6.3%, in the sovereign wealth fund’s second announced divestment from the Japanese gaming company in a month.
A filing with Japan’s Finance Ministry issued Wednesday said the move follows the sale of more than 17 million shares in the gaming behemoth, which concluded in October.
Nintendo's stock fell by up to 4% on the Tokyo Stock Exchange after the PIF’s divestment was announced.
The PIF had already slashed its stake in Nintendo from 8.58% to 7.54%, according to a Japanese regulatory filing on Oct. 8.
