Changes in Hong Kong stocks | Global New Materials International (06616) rose nearly 3% and recently plans to issue a premium of about 15.05% to issue convertible bonds with a total principal amount of 1.3 billion yuan

The Zhitong Finance App learned that Global New Materials International (06616) rose nearly 3%. As of press release, it had risen 2.17% to HK$9.4, with a turnover of HK$9.815,900.

According to the news, Global New Materials International announced that on September 17, 2026 (after the transaction period), the Company signed a subscription agreement with the manager. According to this, the Company agreed to issue convertible bonds with a total principal amount of RMB 1.3 billion, and the manager has obtained conditional consent to individually (not jointly) subscribe and pay such convertible bonds, or arrange for the subscribers to subscribe and pay such convertible bonds, subject to the terms and conditions set forth in the subscription agreement. The initial exchange price was HK$10.93 per share, a premium of approximately 15.05% over the closing price of HK$9.50 per share reported by the Stock Exchange on September 17, 2026 (the trading day the subscription agreement was signed).

The net proceeds are estimated at RMB 1,281 billion (approximately HK$1,498 million). Based on the initial exchange price, the net issue price per share is approximately HK$10.77. The Company plans to use the net proceeds as existing debts for refinancing (including disbursing funds for simultaneous repurchases), supplementary working capital and general corporate purposes.