Synergy Communications (01613) announced that on March 6, 2024, the company entered into a placement agreement with the placement agent. The company conditionally agreed to use the placement agent to place up to 60 million shares to no less than six undertakers at the placement price of HK$0.401 per share, accounting for about 16.65% of the expanded share capital. The placement price was approximately 17.32% off the closing price of HK$0.485 per share as reported on the date of the placement agreement.
Assuming that all of the placed shares are placed, a net raise of approximately HK$23.8 million is intended to be used as general working capital and/or future investments of the Group when opportunities arise.