HK Stock Market Move | SOFTMEDX (00648) rose by more than 6%, the controlling shareholder plans to sell up to 445 million shares of the company.

SOFTMEDX (00648) rose more than 6%, as of the time of writing, it is up 6.02% to HKD 0.44, with a turnover of HKD 51.3951 million. On the news front, on May 7, SOFTMEDX announced that its controlling shareholder Multi Omniverse Group Limited had entered into a placement agreement with a placement agent on May 7, 2026 (after trading hours) to place up to 445 million shares of the company, representing 20.8% of the total issued shares, at a price of HKD 0.11 per share. The placement period will last from the date of the agreement until May 15, 2026, or a longer period agreed upon in writing between the company and the placement agent. Upon completion of the placement and assuming all placed shares are successfully allocated to subscribers, the placement shareholder will hold 648 million shares of the company, representing 30.3% of the total issued shares, and will continue to be the controlling shareholder of the company. The placement shareholder has also notified the company that it currently has no plans to further place its shares after the completion of the placement.