HK Stock Market Move | GLOBAL NEW MAT (06616) rises over 7% again, the acquisition of Merck Surface Solutions business transaction is about to be finalized.

GLOBAL NEW MAT (06616) rose by more than 7%, up 6.66% to HK$5.17 as of the time of drafting, with a turnover of HK$65.0587 million. In terms of news, GLOBAL NEW MAT announced that the company will hold a special general meeting of shareholders on July 21, 2025 to seek approval for the proposed acquisition of Merck's global surface solutions business transaction. The announcement stated that the Group's Chairman, Mr. Sultian, and his controlled companies, together with several other shareholders, collectively hold 50.6% of the company's equity. They have made an irrevocable commitment to vote in favor of approving the transaction at the special general meeting. Public information shows that Merck's surface solutions focus on providing surface solutions for coatings, cosmetics, and industrial applications, holding a significant position in the high-quality market and having a significant impact on the global automotive and cosmetics markets. GLOBAL NEW MAT and surface solutions are highly complementary in terms of product portfolio, professional technology, and geographical coverage. It is reported that GLOBAL NEW MAT signed a proposed agreement to acquire the global surface solutions business with Merck on July 25, 2024, and this circular further discloses the latest developments related to the transaction, indicating that the project is about to be finalized.