Synertone Communication (HKG:1613) said it would seek HK$108 million via a stock offering, according to a Hong Kong bourse filing Thursday.

Shares of the digital trunking firm gained over 28% in morning trade Friday.

The firm plans to sell 1 billion shares at HK$0.108 each to raise funds to expand its building intelligence business and general working capital.

The shares represent 187% of the company's issued share capital and around 65% as enlarged by the sale.

The firm will call a meeting of shareholders to seek approval for the share offering.