Kingdee International Software Group (HKG:0268) established its regional headquarters in Qatar, Yicai Global reported Wednesday, citing an announcement from the company.
The headquarters aim to expand the Chinese enterprise management software developer's presence in the Middle East and North Africa, the report said, citing the company's chief executive officer, Robert Xu.
The Qatar Investment Authority was one of the facilitators of the headquarters' establishment. The country's sovereign wealth fund invested $200 million in Kingdee in December 2023 after recognizing the company as a key leader in China's enterprise cloud transformation in China, the report said.
Kingdee's shares slumped 7% in recent trade.
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