Synertone Plans Major Share Placing to Fund Building Intelligence Expansion

Synertone Communication Corporation ( (HK:1613) ) has shared an update.

Synertone Communication Corporation has entered into a placing agreement to issue up to 1 billion new shares at HK$0.108 each through Arta Asset Management, representing about 186.61% of its existing share capital and 65.11% of the enlarged capital if fully placed. The deal, to be executed under a specific mandate and subject to shareholder approval at an extraordinary general meeting and other conditions, could raise net proceeds of approximately HK$106.6 million.

The company plans to use about 83.8% of the funds, or roughly HK$89.3 million, to expand its Building Intelligence Business, with the remaining 16.2% earmarked for working capital and general corporate purposes. The proposed placing, which requires stock exchange approval for listing of the new shares, would significantly dilute existing shareholders but is positioned as a key funding step to support Synertone’s strategic push into building intelligence solutions and to strengthen its balance sheet.

The most recent analyst rating on (HK:1613) stock is a Sell with a HK$0.13 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, incorporated in the Cayman Islands and listed in Hong Kong, operates in the communications and technology sector. The company is expanding into a Building Intelligence Business, focusing on smart-building related solutions, and is seeking additional capital to scale this segment while supporting its general operations.

Average Trading Volume: 2,056,529

Technical Sentiment Signal: Sell

Current Market Cap: HK$68.05M

See more data about 1613 stock on TipRanks’ Stock Analysis page.