Financial Wire

SoftMedx Healthcare Proposes Share Consolidation

-- SoftMedx Healthcare (HKG:0648) said its board proposed a share consolidation on the basis of 1 consolidated share for every 20 existing share in issue, according to a Hong Kong bourse filing Friday.

Shares of the medical and healthcare business fell over 9% in morning trade Monday.

The company plans to call a meeting of shareholders to seek approval for the plan.

If approved, the move will reduce the company's share in issue from 2.14 billion existing shares to 107.1 million consolidated shares.

The consolidation is planned for completion on May 19 and is intended to make investing in the company's shares more attractive to a broader range of investors.

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