Saudi EGDC increased its stake in Capcom
The Electronic Gaming Development Company (EGDC) from Saudi Arabia purchased another portion of Capcom shares. It now controls a 6.04% stake.
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In documents submitted to the Japanese financial regulator, EGDC indicated that the purchase was made for investment purposes—the company intends to profit from Capcom's share price growth and dividends.
EGDC's interest in Capcom first became known in mid-March when the company acquired a 5.03% stake for approximately 600 million dollars. Whether it plans to further increase its stake in the future is unknown. However, EGDC is already among Capcom's largest external shareholders.
Interestingly, another 6.6% of Capcom's shares belong to the Saudi Arabian Sovereign Wealth Fund through its affiliated firm Ayar First Investment Co. Thus, Saudis currently own a total of 12.64% of the Japanese developer's shares.
Notably, EGDC, like the fund, is connected to the Saudi Arabian authorities. The company was established in 2020 with the support of the MiSK Foundation, which is under the control of the country's Crown Prince Mohammed bin Salman Al-Saud.