Synagistics debuts as publicly traded company following business combination with HK Acquisition Corporation

  • Synagistics Limited is now listed on the HKEX under stock code 2562.HK.
  • The listing marksHong Kong'sfirst successful De-SPAC transaction.
  • With the resources and platform of a public company, Synagistics aims to deepen its presence inSoutheast Asiaand accelerate its expansion into the greaterChinaregion andEurope.

HONG KONG,Oct. 30, 2024/PRNewswire/ -- Shares in Synagistics Limited ("Synagistics"), a leading data-driven digital solutions platform inSoutheast Asia, officially commenced trading today on the Main Board of the Hong Kong Stock Exchange (HKEX) under stock code 2562.HK, following the completion ofHong Kong'sfirst De-SPAC transaction. The listing represents a historic milestone forHong Kong'scapital markets landscape following the introduction of the SPAC framework in 2022.

The listing follows the approval by the shareholders of HK Acquisition Corporation of the business combination between Synagistics Pte. Ltd. and HK Acquisition Corporation at the EGM held on25 October 2024. As a publicly traded company, Synagistics is poised to drive further growth acrossSoutheast Asia'srapidly expanding digital economy and extend its presence into new territories, beginning withHong KongandSpain.

The transaction attractedHK$551 millionin PIPE (Private Investment in Public Equity) investment from a diverse group of institutional investors, including Celestial Link (an indirect, wholly-owned subsidiary of HKT Trust and HKT Limited) and China Orient Enhanced Income Fund, underscoring strong market confidence in Synagistics'growth prospects.

Mr.Clement Lee, Chairman of Synagistics Limited, commented,"Today marks a significant new chapter for Synagistics. Becoming a publicly listed company grants us greater access to capital markets and strengthens our visibility and credibility in the global marketplace, enabling us to expand faster and to bring more innovative digital solutions to our brand partners. We are deeply committed to creating long-term value for our shareholders and are confident in executing our ambitious growth strategy in the region's fast-evolving digital economy."

Dr.Norman Chan,Chairman and Executive Directorof HK Acquisition Corporation, remarked,"We are delighted to have partnered with Synagistics to achieve this historic De-SPAC transaction. This is a pivotal moment not only for the company but also forHong Kong'scapital markets, reinforcing the city's status as an international financial center. We believe Synagistics will be a strong contributor to the growth ofSoutheast Asia'sdigital economy and look forward to its continued success."

Acting Financial Secretary of Hong Kong SAR Mr. Michael Wong (fourth left), with the management of Synagistics and HK Acquisition Corporation during the listing ceremony to mark the successful public debut of Synagistics Limited.

 

Mr. Clement Lee, Chairman of Synagistics (second right), and Dr. Norman Chan, Chairman of HK Acquisition Corporation (third left), hit the gong at today’s listing ceremony.

About Synagistics Limited

Synagistics Limited (2562.HK) operates the Synagie Platform, a data-driven digital solutions platform inSoutheast Asia. It was among the top ten digital solutions providers inSoutheast Asia, having served more than 600 brand partners. It provides integrated digital solutions to its brand partners via two core propositions: (1) its direct-to-brands model helps brands to manage the full spectrum of their e-commerce business, while creating a unified experience for customers throughout the entire consumer journey, and (2) its direct-to-consumers model sells brands'products directly to consumers through online stores owned by Synagistics and operated under the name of its brand partners across various e-commerce channels. For information, visitwww.synagie.com.

These materials are not for distribution, directly or indirectly, in or intothe United Statesor any jurisdiction where such distribution is not permitted. These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities inthe United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933.

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SOURCE Synagistics Limited