HK Stock Market Move | SOFTCARE(02698) has risen by over 4%, with all excess rights issues fully exercised, resulting in an additional net fundraising of HK$345 million.

SOFTCARE (02698) is currently up over 4%, rising 4.27% to HK$31.28 as of the press release, with a turnover of HK$195.328 million. In terms of news, SOFTCARE announced that all its excess rights issues, stabilizing price actions, and stabilization periods have ended. The announcement stated that all coordinators exercised 15% excess rights issues, involving a total of 13.326 million shares. The issue price was HK$26.20, raising an additional net amount of HK$345 million. As a result, SOFTCAREIPO's fundraising has increased to HK$2.738 billion. SOFTCARE focuses on the hygiene products industry in emerging markets such as Africa. China Securities Co., Ltd. released a research report stating that in the future, there is great potential for the penetration rate of baby diapers, training pants, and sanitary napkins in Africa, with rates currently only around 20%, 30% compared to mature markets of 70%-90%, 90%. The rapid growth of emerging market economies will drive the penetration rate. In emerging markets such as Latin America, Central Asia, and North and South Africa, the company, with its experience in product manufacturing and channel development, is expected to further expand. Backed by Sen Da Group, the company may have potential for future integration of fast-moving consumer goods assets.