HK Stock Market Move | DALIPAL HLDG (01921) resumes trading, up more than 5%, introduces Saudi strategic investors to advance Middle East projects.

DALIPAL HLDG (01921) resumed trading with an increase of over 5%, rising by 5.29% to 8.36 Hong Kong dollars, with a turnover of 8.11 million Hong Kong dollars as of the time of writing. In terms of news, DALIPAL HLDG announced the sale of 40% equity in Dalipu International to Zumar, a strategic investment and development company in Saudi Arabia, for a total consideration of 3 million Saudi Riyal. After completion, the company and Zumar will respectively hold 60% and 40% of Dalipu International, and both parties agree to increase the share capital of Dalipu International to $150 million to $240 million initially based on their respective holdings, to provide partial funding for the first phase of the total project cost. The company is expected to contribute up to $144 million. The remaining amount of the total project cost will be funded by third-party debt financing, shareholder loans, or shareholder cash contributions (as agreed from time to time). The project will be constructed in two phases, with a total designed production capacity of 1.1 million tons per year. The first phase of the project is expected to involve an investment of $600 million.