Tiger Brokers

SY Holdings Targets Up to HK$209 Million Net Proceeds from Share Placement

MT Newswires Live
May 13

SY Holdings (HKG:6069) plans to sell up to 17,480,000 shares to not less than six investors at HK$11.99 apiece, according to a Tuesday filing with the Hong Kong bourse.

The shares comprise 1.74% of the total shareholding of the artificial intelligence and industrial supply chain company as enlarged by the offering.

Net proceeds, expected to be at HK$208.7 million, will be used to expand its platform-based technology services, such as e-commerce, AI applications, robotics, and cross-border businesses.

The company also intends to boost investment in research and development, especially for its SY Cloud Platform, the filing said.

Shares jumped 5% during morning trading on Tuesday.

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