Diokno asks Saudi firms to invest in Maharlika fund

Finance Secretary Benjamin Diokno encourages Saudi Arabian firms to invest in Maharlika Investment Fund.

“To achieve this, Maharlika aims to attract capital from both domestic and global equity investors, including large funds here in the Middle East seeking to diversify its portfolio in fast-growing emerging markets like the Philippines,” Diokno said. Governing the fund is the Maharlika Investment Corp. which has an authorized capital stock of around $8.9 billion––$ 6.6 billion are common shares for subscription of the national government and its instrumentalities, while the remaining $2.2 billion are preferred shares open for subscription of the national government and reputable private financial institutions and corporations.

“We look forward to your partnership and investment as we proceed with the full operationalization of the fund by the end of 2023,” he said.

Source: News Formal (newsformal.com)

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