Co-link Communication (01613.HK) completes the placement of 1 billion shares, raising approximately 1.066 billion Hong Kong dollars.

Zhtng Cijng APP News, Synertone Communications (01613.HK) has announced that all conditions of the placing agreement have been fulfilled, and the placing was completed on June 29, 2026. According to the terms of the placing agreement, a total of 1 billion placing shares have been placed and issued to no less than six placees at a placing price of HK$0.108 per share, equivalent to approximately 186.61% of the company's issued share capital immediately prior to completion, and approximately 65.11% of the company's enlarged issued share capital post completion. The net proceeds from the placing amount to approximately HK$106.6 million. The company plans to use the net proceeds from the placing for the following purposes: (i) approximately 83.8% or approximately HK$93 million will be used to meet identified genuine needs for the expansion of the group's building intelligent business; (ii) approximately 16.2% or approximately HK$17.3 million will be used for general working capital and general corporate purposes.