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Kingdom Holdings Eyeing Huge Stake in Square

 (Image source: au.pfinance.yahoo.com)

According to Fox Business, Saudi Arabia’s sovereign wealth fund, Kingdom Holdings, which is chaired by Prince Alwaleed bin Talal is in the process of acquiring a stake of $200 million in Square, the fast growing mobile payment startup. This is a smart move by Kingdom Holdings because an IPO in the near term is definite for Square. The IPO market has been red hot lately and Squares’ rapid growth would be a success in the public markets