Summit Alliance Port shares soar as Hellmann Worldwide acquires 40% stake in freight business
Shares of Summit Alliance Port surged after German logistics giant Hellmann Worldwide announced plans to acquire a 40% stake in Summit Alliance’s freight forwarding and shipping agency business.
The strategic partnership is set to enhance Summit Alliance’s global reach and operational capabilities, aligning with Hellmann’s goal of expanding its footprint in South Asia, according to its price-sensitive statement filed on the Dhaka Stock Exchange (DSE).
Following the announcement, Summit Alliance Port shares jumped 9.90% to close at Tk22.20 today (20 January) at the Dhaka Stock Exchange.
Summit Alliance operates…
