Mediwelcome completes share placement, raises HKD16m

Mediwelcome Healthcare Management & Technology Inc. has announced the completion of its placing of new shares under a general mandate. The company successfully placed 40,000,000 shares at a price of HKD0.40 per share. The gross proceeds from the placement amount to approximately HKD16 million, with net proceeds, after deducting relevant expenses, estimated at HKD15.45 million. Mediwelcome intends to use these net proceeds for general working capital purposes. Following the placement, the new shares represent approximately 16.67% of the enlarged issued share capital of the company. The company affirmed that the placees are professional, institutional, or other investors independent of and not connected with the company or its connected persons.