HK Stock Market Move | GLOBAL NEW MAT (06616) rises nearly 3%, recently plans to issue convertible bonds with an aggregate principal amount of 1.3 billion yuan at a premium of approximately 15.05%

GLOBAL NEW MAT (06616) rose nearly 3%, up 2.17% as of press time, at HK$9.4, with a turnover of HK$9.8159 million. On the news front, GLOBAL NEW MAT announced that on September 17, 2026 (after trading hours), the Company entered into a subscription agreement with the managers, pursuant to which the Company agreed to issue convertible bonds with an aggregate principal amount of RMB 1.3 billion, and the managers have been conditionally agreed to individually (and not jointly) subscribe for and pay for such convertible bonds, or to arrange for subscribers to subscribe for and pay for such convertible bonds, subject to the terms and conditions set out in the subscription agreement. The initial conversion price is HK$10.93 per share, representing a premium of approximately 15.05% over the closing price of HK$9.50 per share as quoted by the Stock Exchange on September 17, 2026 (the trading day on which the subscription agreement was signed). The estimated net proceeds are RMB 1.281 billion (approximately HK$1.498 billion), and the net issue price per conversion share is approximately HK$10.77 based on the initial conversion price. The Company intends to use the net proceeds to refinance existing debts (including funding the simultaneous repurchase), supplement working capital and for general corporate purposes.