Synertone Raises HK$10.8 Million in Heavily Under-Subscribed Rights Issue

The latest update is out from Synertone Communication Corporation ( (HK:1613) ).

Synertone Communication Corporation completed a heavily under-subscribed rights issue, offering two rights shares for every existing share, with investors taking up only about 9.71% of the 897.5 million rights shares available. Attempts to place the remaining unsubscribed shares through a placing agent failed, resulting in no compensatory gain for non-participating shareholders, and the transaction modestly diluted existing stakes while leaving major shareholders’ absolute holdings unchanged.

Despite the weak subscription, the rights issue became unconditional on 11 February 2026 and raised gross proceeds of approximately HK$11.8 million, with net proceeds of about HK$10.8 million. The company plans to use the funds for general working capital and corporate purposes, including salaries, professional fees, rent and administrative costs, while undertaking a detailed review of its investment strategy and future financing options, highlighting ongoing funding pressures and the need to reassess its capital structure.

The most recent analyst rating on (HK:1613) stock is a Hold with a HK$0.19 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 Cayman Islands-incorporated company listed in Hong Kong that operates in the communications sector. The company focuses on providing communication-related products and services and relies on equity fundraisings such as rights issues to support its working capital and general corporate needs.

Average Trading Volume: 757,421

Technical Sentiment Signal: Sell

Current Market Cap: HK$259.8M

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