SY Holdings (HKG:6069) completed the placing of 17,480,000 shares to at least six investors at HK$11.99 apiece to raise net proceeds of HK$208.7 million, a Tuesday filing with the Hong Kong bourse said.
The shares represent around 1.74% of the artificial intelligence and industrial supply chain company's enlarged issued share capital.
The firm will use proceeds from the issue to accelerate the expansion of platform-based technology services, increase investment in R&D, and for general working capital purposes.
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