Sei Investments Company shares rise 1.69% after-hours following Sumitomo Electric's preferred bidder status for Sea Link HVDC cable project.

Sei Investments Company rose 1.69% in after-hours trading. The company's stock price increase aligns with the news that Sumitomo Electric Industries, Ltd. has been named the preferred bidder for the Sea Link HVDC cable project, a key infrastructure project in the UK. This project is part of National Grid's 'The Great Grid Upgrade' initiative, which aims to increase electricity transmission capacity and deliver renewable and low-carbon energy efficiently. Sumitomo Electric, a leader in the HVDC cable industry, has a proven track record in such projects since the 1970s.