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