By Chris Wack

Orbsat Corp. shares were up 87% to $12.47 after the company said its Global Telesat Communications unit has entered into an agreement with Alibaba.com, the business-to-business e-commerce website owned and operated by Alibaba Group Holding Ltd.

Orbsat said GTC will be a Gold Supplier on Alibaba.com, the world's largest B2B e-commerce website.

Alibaba.com currently has 26 million global active business partners serving customers in 190 countries in 19 different languages and receives more than 340,000 product inquiries daily. As a Gold Supplier, GTC will significantly expand its e-commerce presence with the launch of its latest global storefront.

Orbsat expects to launch its new storefront during the third quarter with an extensive range of satellite IoT and connectivity products. These will include Orbsat's specialized satellite tracking products. Orbsat's full catalog of more than 500 products and connectivity services should be available on Alibaba.com by the start of the first quarter of 2022.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

07-13-21 1004ET