$RITR

Reitar Logtech Forms Joint Venture with Smart Pointer Logistics Warehouse; Shares Rise

Reitar Logtech (RITR) said Monday it has formed a joint venture with Hong Kong-based cold-chain logistics services provider Smart Pointer Logistics Warehouse.The venture, Smart Pointer Logistics Technology, aims to combine Reitar's capabilities in cold-chain infrastructure, warehouse-as-a-service model with Smart Pointer's operating experience in cold-chain warehousing and order fulfillment, according to the company.The companies also entered into a five-year service arrangement with an estimated total contract value of 120 million Hong Kong dollars ($15.3 million), Reitar Logtech said.Shares of Reitar Logtech were up 32% in Monday trading.Price: $0.11, Change: $+0.03, Percent Change: +37.86%