Synertone’s Deeply Under-Subscribed Rights Issue Triggers Large Compensatory Placing
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Synertone Communication Corporation (HK:1613) announced a rights issue of up to 897,482,880 new shares, which was significantly under-subscribed, with only 87,123,051 shares applied for (9.71% of the offer). Approximately 810,359,829 unsubscribed shares will be placed with independent investors, with any premium returned to eligible shareholders. The final results of the rights issue and placing will be announced in February 2026, impacting the company's capital and shareholder base. The current analyst rating is a Hold with a price target of HK$0.17.
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