Leading African diaper seller Softcare Ltd. (2698.HK) said on Tuesday that Yang Yanjuan, a non-executive director and wife of the company’s founder, acquired just over 1 million of the company’s shares in the open market between April 27 and May 5. Yang made the purchases at an average price of approximately HK$29.21 per share, for a total of HK$29.66 million ($3.8 million).
Following the purchases, Yang Yanjuan and her husband, Softcare founder and Chairman Shen Yanchang, collectively hold nearly 333 million company shares, representing 53.6% of its total.
Shares of Softcare opened up 0.4% at HK$28.20 on Wednesday. The company went public last November after selling shares for HK$26.20 each. The stock surged by 30% on its debut and later hit a high of HK$36.80 before falling back to its current level.
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