General Dr. Abdul Rahman Al-Tuwaijeri said the council's meeting decided to sell state shares worth SR250 million owned by Public Investment Fund in NCCI, which has a capital of SR500 million. The General Organization for Social Insurance and Pension Fund are expected to maintain their stake (25 percent each) in the Kingdom's only official insurance company, which has five million shares, each with a nominal value of SR100. Maaden, which is fully owned by the government, is expected to sell 40 to 50 percent of its stake in the precious metals sector in which the company has invested SR600 million. Maaden was established with a capital of SR4billion in 1997 in order to utilize the Kingdom's rich mineral resources. The company, which is involved in many projects, is now estimated to be worth several billion dollars. --MORE 1140 Local Time 0840 GMT
