Synertone Communication to Launch HK$108 Million Stock Offering
MT Newswires Live
Mar 06
Synertone Communication (HKG:1613) said it would seek HK$108 million via a stock offering, according to a Hong Kong bourse filing Thursday.
Shares of the digital trunking firm gained over 28% in morning trade Friday.
The firm plans to sell 1 billion shares at HK$0.108 each to raise funds to expand its building intelligence business and general working capital.
The shares represent 187% of the company's issued share capital and around 65% as enlarged by the sale.
The firm will call a meeting of shareholders to seek approval for the share offering.
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