Saudi's Kingdom Holding pays $50 mln to raise Twitter stake to 0.72 pct

Reuters
The Twitter logo is shown on an LCD screen in front of a displayed stock graph in central Bosnian town of Zenica, Bosnia and Herzegovina, in this April 29, 2015 photo illustration. REUTERS/Dado Ruvic/files

DUBAI (Reuters) - Saudi Arabia's Kingdom Holding has paid $50 million to double its stake in microblogging site Twitter Inc, the Riyadh-based company said on Wednesday.

Kingdom Holding, the investment firm owned by billionaire Prince Alwaleed bin Talal, now owns 0.72 percent of Twitter, having originally invested $50 million in the tech company in 2011.

Twitter listed on the New York Stock Exchange in November 2013. Its market capitalisation is $18.7 billion, according to Reuters data.

(Reporting by Matt Smith; editing by Katie Paul)