Trio AI, the joint venture company of Valuetronics' (SGX:BN2) subsidiary, Value Match, with Sinnet Cloud, expects to raise HK$15.0 million through a share subscription agreement with YH Inv, according to a Tuesday filing with the Singapore Exchange.

The shares represent around 51.73% of the JV's issued share capital.

YH Inv is a subsidiary of Yee Hop Holdings (HK:1662).

Proceeds raised from the subscription agreement will be utilized for financing and development of Trio AI's business.

Shares of the company were down nearly 2% in Wednesday's trading.