Mediwelcome Healthcare Management & Technology (HKG:2159) agreed to issue up to 40 million new shares at HK$0.40 each under a general mandate, according to a Hong Kong bourse filing on Friday.

The placing price represents a 9.09% discount to the stock's last closing price and a 10.31% discount to its five-day average.

The offer is expected to raise net proceeds of about HK$15.5 million, which will be used for general working capital, the company said.

The new shares represent 20% of Mediwelcome's existing issued share capital and 16.67% of the enlarged total.

Shares of the integrated healthcare marketer soared to about 16% in recent trade