Four Seas International (00120) rose more than 7%. As of press release, it was up 7.64% to HK$3.10, with a turnover of HK$6.34 million.
The Zhitong Finance App learned that Sihai International (00120) rose by more than 7%. As of press release, it had risen 7.64% to HK$3.10, with a turnover of HK$6.34 million.
According to the news, Saudi Arabia's Ministry of Investment recently announced the signing of memorandums of cooperation with Regal Hotels Group and Four Seas International to promote exchanges between China and Saudi Arabia in tourism, innovation, and technology. The purpose of the memorandum is to acquire, develop and manage a series of sustainable serviced apartments and innovation centers under Regal Hotels's “Fuhui” brand. The investment is estimated to be around US$5 billion, and it is expected that 100 hotels will be opened by 2035.
Luo Juntu, vice chairman of Sihai International Group, revealed that the project is expected to be invested in the form of allotments or funds, and will also actively attract investors from the mainland and the Middle East. The project will actively seek out undervalued assets around the world, and the return on investment and growth rate is expected to be higher than investment in Hong Kong.
Furthermore, according to the latest data from the Hong Kong Stock Exchange, Chairman and Executive Director Luo Xurui increased his holdings of Sihai International by 1.8 million shares, at a price of HK$2.8267 per share, for a total amount of about HK$5.0881 million. The latest number of shares held after the increase was approximately 2,454 billion shares.