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.