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MEITUAN Purportedly Expedites Int'l Growth, Plans Takeout Platform in Riyadh
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MEITUAN-W (03690.HK) plans to launch its takeaway platform in Riyadh, the capital city of Saudi Arabia, taking its first step outside of the Greater China region at a time of slowing growth in Mainland China market, Bloomberg reported. After successfully launching its food delivery mobile app KeeTa in Hong Kong last year, MEITUAN-W will launch KeeTa in Riyadh as soon as possible in the next few months, report told. The group has been preparing for its Middle East expansion for months. Local takeaway rivals include Jahez, Delivery Hero's Talabat, and Uber-backed Careem. According to the report, KeeTa's development plan in Riyadh will be modeled on that of Hong Kong, and will be rolled out in different regions in phases. The group has already recruited business development staff in the region. To the report, MEITUAN-W did not provide any response. MEITUAN-W closed midday at $115.6, up $4.1 or 3.68%, on volume of 24.1894 million shares and turnover of $2.778 billion. AAStocks Financial News |
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