Synagistics Limited (HKG:2562) plans to raise about HK$146 million in gross proceeds through a top-up placement, according to a Friday filing with the Hong Kong stock exchange.

Metadrome Ltd., a vendor fully owned by a trust nominee for Chairman and CEO Clement Lee, is selling 9.24 million existing shares at HK$15.80 each. The company will issue the same number of new shares to the vendor at the same price under its general mandate.

The placing shares represent approximately 2.08% of the company's existing issued capital and 2.04% on an enlarged basis, the filing said.

Net proceeds are estimated at HK$112.43 million and will be used for growth initiatives, including potential M&A, investments in AI and big data, and general corporate purposes.

Synagistics' shares fell over 1% in recent trading.