Stock Track | Wasion Holdings Soars 5.22% Intraday on Oversold Rebound After Placement and Pakistan Contract Win

Stock Track04-29

Wasion Holdings' stock surged 5.22% during intraday trading on Wednesday, marking a significant upward movement for the company's shares.

The sharp rise appears to be a technical rebound following a cumulative decline of over 20% after the company completed a placement of 50 million new shares. The placement was executed at HK$30.00 per share, raising approximately HK$1.5 billion for the company.

Additionally, the rebound was supported by news that the company's subsidiary, Wasion Group, successfully secured a smart metering products and services project in Pakistan with a contract value exceeding RMB 115 million. This contract win reinforces confidence in the company's international expansion strategy and competitive position in the South Asian market.

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