Synertone Communication Seeking HK$121 Million via Rights Offering
MT Newswires Live
Oct 16
Synertone Communication (HKG:1613) said it was looking to raise HK$121.2 million via a rights offering, according to a Hong Kong bourse filing Wednesday.
Shares of the digital trunking firm fell over 5% in morning trade Thursday.
The company is offering 897,482,880 rights shares at HK$0.135 apiece on the basis of 2 shares for every one held in the company.
The shares represent 200% of the company's issued share capital, and 66.67% as enlarged by the offering.
The issue is subject to shareholder approval.
Unsubscribed shares will be offered to new investors under a placing agreement with Waton Securities International, Synertone said.
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