Intercontinental Aerospace Science and Technology (01725) rose more than 6%. As of press release, it rose 6.83% to HK$2.19, with a turnover of HK$1,132,400.
The Zhitong Finance App learned that Intercontinental Aerospace Technology (01725) rose by more than 6%. As of press release, it had risen 6.83% to HK$2.19, with a turnover of HK$1,132,400.
According to the news, Intercontinental Aerospace Science and Technology announced that its indirect non-wholly-owned subsidiary Aspace HK and Masarrah Investment have set up a joint venture of Aspace Saudi with a shareholding ratio of 85:15. It is expected that Aspace Saudi will build its satellite manufacturing facilities and future business operations in Saudi Arabia.
The company stated that the joint venture agreement enabled the company to develop satellite manufacturing business in Saudi Arabia. The relevant work has been identified as a priority area under “Saudi Vision 2030” (a government plan launched for Saudi Arabia, which aims to achieve the promotion of diverse economic, social and cultural development).