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SoftMedx Healthcare's Controlling Shareholder Completes Share Sale; Shares Up 5%

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SoftMedx Healthcare (HKG:0648) said its controlling shareholder completed the placement of 445 million existing shares at HK$0.11 apiece, according to a May 15 Hong Kong bourse filing.

Shares of the firm were up nearly 5% in Monday morning trade.

The placed shares represent about 20.8% of the company's issued share capital.

Following completion of the placement, the controlling shareholder's stake in SoftMedx decreased to 30.3% from 51%.

The company said the shares were placed to not fewer than six independent placees and none became a substantial shareholder following the transaction.

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