Saudi Arabia's public investment fund has taken an 8.2% stake in Carnival Corp., according to a Monday financial filing from the cruise giant.
Carnival shares have fallen 83% year to date to about $8 a share, as the number of coronavirus-related deaths on cruise ships has risen and ships have been turned away from ports. As of Friday's closing price, the new stake was worth $369.4 million, according to Bloomberg.
Shares were up as much as 20% in Monday trading.
Carnival declined to comment. The Saudi fund did not immediately respond to a request for comment.
