GLOBAL NEW MAT (06616) plans to issue convertible bonds with a total principal amount of 1 billion Hong Kong dollars.

GLOBAL NEW MAT (06616) announced that on December 15, 2025 (after trading hours), the company entered into a subscription agreement with the agents Hong Kong Shanghai HSBC Bank Limited and Deutsche Bank Hong Kong Branch. According to this agreement, the company agreed to issue convertible bonds with a principal amount of HK$1 billion, and the agents conditionally agreed to subscribe or cause subscribers to subscribe and pay for such convertible bonds, subject to the conditions set out in the subscription agreement. The issue price of the convertible bonds will be 100.00% of the principal amount of the convertible bonds, with a face value of HK$2 million per convertible bond and increaseable in multiples of HK$1 million. Based on a preliminary conversion price of HK$10.19 per share, assuming full conversion at the preliminary conversion price, and no other share issuance or share buyback, the convertible bonds will be convertible into approximately 98.1354 million conversion shares, representing approximately 7.92% of the total number of shares issued as of the date of this announcement, and approximately 7.34% of the total number of shares issued after the issuance of the conversion shares. The conversion shares will be fully paid shares and will have the same rights as the shares already issued. The company will apply for approval for the listing and trading of the convertible bonds on the Vienna MTF operated by the Vienna Stock Exchange (or any other international recognized stock exchange determined by the company from time to time). The company will also apply to the Hong Kong Stock Exchange for approval for the listing and trading of the conversion shares to be issued and issued upon conversion of the convertible bonds. The net proceeds are estimated to be approximately HK$9.81 billion, and the company intends to use the net proceeds to supplement working capital, refinance existing debts, and for general corporate purposes.