Crown prince of Saudi Arabia’s Electronic Gaming Development Company acquires 5% stake in Capcom

The crown prince of Saudi Arabia’s Electronic Gaming Development Company (EGDC) has acquired a 5% stake in Capcom.

As Gamebiz reports (via VGC), EGDC has acquired 26.78 million shares in the Japanese company. This is reportedly a “pure investment” aimed at generating “profit from capital gains and dividends.”

Saudi Arabia’s Public Investment Fund (PIF) bought 5% of Capcom’s shares in 2022, alongside Nexon, in a combined investment of about $1 billion.

EGDC is a subsidiary of the Misk Foundation, founded by the crown prince. The firm previously acquired a 96% stake in Japanese developer SNK.

The PIF is part of an investment group acquiring Electronic Arts in a $55 billion deal. The firm will roll its existing stake into the company.

Earlier this year, the PIF moved an estimated $12 billion in shares to its game-focused subsidiary, Savvy Games Group.

When the deal is complete, it will own around 10% in firms including Koei Tecmo, NCSoft, Nexon, and Square Enix. The transfer will also include PIF’s holdings in Nintendo, Bandai Namco, and Take-Two Interactive.