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Synertone Communication Corporation ( (HK:1613) ) just unveiled an announcement.
Synertone Communication Corporation reported that its rights issue of up to 897,482,880 new shares was significantly under-subscribed, with only 87,123,051 rights shares validly applied for, representing about 9.71% of the offer. As a result, approximately 810,359,829 unsubscribed rights shares will be dealt with through compensatory arrangements, under which a placing agent has been appointed on a best-effort basis to place these shares with independent investors, and any premium over the subscription price achieved in this placing will be returned pro rata (subject to a HK$100 minimum) to eligible shareholders who did not fully take up their entitlements. Any unsubscribed rights shares that cannot be placed will not be issued, reducing the final size of the capital-raising exercise, and the company plans to announce the final results of the rights issue, the placing outcome and the net gain per placing share in February 2026, a development that will determine how much fresh equity capital Synertone ultimately secures and how its shareholder base may shift.
The most recent analyst rating on (HK:1613) stock is a Hold with a HK$0.17 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 Hong Kong-listed company engaged in the communications sector, providing technology and services related to satellite and integrated communication solutions to customers in mainland China and other markets. The group targets infrastructure, industrial and government-related users that require reliable, high-capacity communications connectivity for their operations.
Average Trading Volume: 665,349
Technical Sentiment Signal: Sell
Current Market Cap: HK$242.3M
For detailed information about 1613 stock, go to TipRanks’ Stock Analysis page.