Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Synertone Communication Corporation ( (HK:1613) ) has issued an announcement.
Synertone Communication Corporation has announced a proposed rights issue to raise approximately HK$121.2 million. This initiative aims to issue 897,482,880 Rights Shares at a subscription price of HK$0.135 per share, available only to qualifying shareholders. The rights issue, which will increase the company’s share capital by over 50%, requires approval from minority shareholders at an extraordinary general meeting (EGM). The proceeds are expected to enhance the company’s financial position, with implications for its market operations and shareholder value.
The most recent analyst rating on (HK:1613) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Synertone Communication Corporation stock, see the HK:1613 Stock Forecast page.
More about Synertone Communication Corporation
Synertone Communication Corporation is a company incorporated in the Cayman Islands, primarily involved in the communication sector. It is listed on the Hong Kong Stock Exchange under the stock code 1613.
Average Trading Volume: 386,584
Technical Sentiment Signal: Sell
Current Market Cap: HK$94.24M
For a thorough assessment of 1613 stock, go to TipRanks’ Stock Analysis page.