Synertone (01613) announced that on November 5, 2024, the company plans to issue a total of 74.176 million shares to the subscriber Infinity Holding Resources Limited, representing approximately 16.53% of the enlarged share capital after the completion of the subscription. The subscription price per share is HK$0.28, a discount of approximately 12.50% compared to the closing price of HK$0.32 per share on November 5.

Assuming all subscription shares are successfully issued, the total amount and net amount of funds raised from the subscription are approximately HK$20.8 million and approximately HK$20.7 million, respectively. The company plans to allocate the net proceeds from the subscription to enhance its existing smart phone distribution business, general operating funds, and/or future investments when opportunities arise within the group.