Intercontinental Aerospace Science and Technology (01725) rose more than 17% in the intraday period. As of press release, it was up 8.22% to HK$2.37, with a turnover of HK$14.287,800.
The Zhitong Finance App learned that Intercontinental Aerospace Technology (01725) rose more than 17% in the intraday period. As of press release, it had risen 8.22% to HK$2.37, with a turnover of HK$14.287,800.
According to the news, Intercontinental Aerospace Science and Technology announced at the beginning of this month that on February 1, 2024, Aspace Saudi, Aspace HK and investors entered into a joint venture agreement with Aspace Saudi. The Board of Directors and investors are looking forward to this cooperation and are pleased to participate in the introduction of satellite manufacturing into the Kingdom of Saudi Arabia, which has been identified as a priority area under the “Saudi Vision 2030”.
According to reports, the previous name of Intercontinental Aerospace Science and Technology was “Hong Kong Aerospace Science and Technology,” and the name change will help establish a more appropriate corporate image and identity, thereby contributing to the company's future development and international business expansion. The new name more accurately reflects the company's future global business plans.
Furthermore, the company previously announced that it has decided to conduct a potential dual listing of the company's shares on a Middle East stock exchange. The company stated that after completing the dual listing, the company will enter the Middle East securities market and expand the Group's influence in this market. They also stressed that the dual listing still needs to be approved by the relevant regulators in the Middle East for the dual listing.