---
title: "Understanding the Market | SYNAGISTICS plummets over 17% to a new low, plans to issue convertible bonds to raise approximately HKD 260 million for investment in gold and related products"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/263644569.md"
description: "SYNAGISTICS plummeted over 17% in early trading, hitting a new low of HKD 8.9. As of the time of publication, it fell 16.25% to HKD 9.12, with a trading volume of HKD 152 million. On the news front, SYNAGISTICS announced that its subsidiary plans to issue convertible bonds with a principal amount of USD 35 million, with an initial conversion price of HKD 11.96, representing a premium of about 7.7% over the previous trading day's closing price of HKD 11.11. The net proceeds of approximately HKD 260 million will be used to invest in gold, gold-backed, and gold-related products. Public information shows that SYNAGISTICS is based in Singapore and is a Southeast Asian e-commerce solutions platform under Alibaba. Notably, SYNAGISTICS previously announced plans to acquire a Chinese SaaS company that focuses on providing omnichannel digital commerce, smart retail, and supply chain solutions for commercial institutions, holding a significant position in the Chinese SaaS market. The market speculated that the target company could be Shangyue Technology or Jushuitan, with Jushuitan having already listed on the Hong Kong Stock Exchange on October 21, 2025"
datetime: "2025-10-31T02:34:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/263644569.md)
  - [en](https://longbridge.com/en/news/263644569.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/263644569.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/263644569.md) | [繁體中文](https://longbridge.com/zh-HK/news/263644569.md)


# Understanding the Market | SYNAGISTICS plummets over 17% to a new low, plans to issue convertible bonds to raise approximately HKD 260 million for investment in gold and related products

According to the Zhitong Finance APP, SYNAGISTICS (02562) plummeted over 17% in early trading, hitting a new low of HKD 8.9. As of the time of writing, it has dropped 16.25%, trading at HKD 9.12, with a transaction volume of HKD 152 million.

On the news front, SYNAGISTICS announced that its subsidiary plans to issue convertible bonds with a principal amount of USD 35 million, with an initial conversion price of HKD 11.96, representing a premium of about 7.7% over the previous trading day's closing price of HKD 11.11. The net proceeds of approximately HKD 260 million will be used to invest in gold, gold-backed, and gold-related products. Public information shows that SYNAGISTICS is based in Singapore and is a Southeast Asian e-commerce solutions platform under Alibaba.

It is worth noting that SYNAGISTICS previously announced plans to acquire a Chinese SaaS company that focuses on providing omnichannel digital commerce, smart retail, and supply chain solutions for commercial institutions, holding a significant position in the Chinese SaaS market. The market speculated that the target company might be Shangyue Technology or Jushuitan, with Jushuitan having already listed on the Hong Kong Stock Exchange on October 21, 2025

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