Market Chatter: Meituan Sees September/October Launch for Food Delivery Platform in Riyadh; Shares Up 3%

MT Newswires Live07-22

Chinese on-demand service provider Meituan (HKG:3690) is looking to launch in September or October its overseas food delivery platform KeeTa in Riyadh, Saudi Arabia, National Business Daily reported July 19.

The move followed the Chinese on-demand service provider's launch of KeeTa in Hong Kong in May, according to the report.

Recruitment for the takeout business in Riyadh started in April, with the facilitation of the local business to include marketing, rider training, and restaurant alliances, according to National Business Daily.

Meituan shares rose nearly 3% in recent trade on the Hong Kong bourse.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $120.50, Change: $+3.00, Percent Change: +2.55%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment