SOFTMEDX (00648.HK): Placing Proceeds to Fund Greater Bay Area Healthcare Expansion

NewTimeSpace News: On 11 November 2026, Softmedx Healthcare Limited (stock code: 648) published a supplemental announcement providing further details on the use of proceeds from its placing of new shares under a general mandate announced on 2 November 2026. The placing agent is a Hong Kong-licensed securities firm.

The net proceeds are intended to be applied as follows: about HK$3.0 million, or about 52.9% of the net proceeds, for expanding and developing the Group's healthcare business in the Greater Bay Area, including administrative expenses, rent and staff costs, to be fully used by the first half of 2027; and about HK$2.67 million, or about 47.1%, for general working capital, including operating expenses, also to be fully used by the first half of 2027.

As at 30 June 2026, the Group had cash and bank balances of about HK$26.5 million, of which about HK$20.5 million is earmarked to settle trade payables and operating expenses incurred after 30 June 2026 and about HK$6.0 million to purchase medical and healthcare products for distribution. Having considered these allocations, the Company considers it has an urgent funding need for the placing. Completion remains subject to the conditions of the placing agreement, and the placing may or may not proceed.