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An announcement from Global New Material International Holdings Limited ( (HK:6616) ) is now available.
Global New Material International Holdings Limited has completed the issuance of HK$1 billion 4.25% convertible bonds due 2027 under its general mandate, following satisfaction of all conditions in the subscription agreement. The bonds have been listed on the Vienna MTF operated by the Vienna Stock Exchange, with approval secured for the listing and trading of the underlying conversion shares in Hong Kong; at an initial conversion price of HK$10.19 per share, full conversion would result in 98,135,410 new shares, representing about 7.34% of the enlarged share capital, implying potential equity dilution but also expanded funding capacity and enhanced financing flexibility for the company.
The most recent analyst rating on (HK:6616) stock is a Buy with a HK$12.50 price target. To see the full list of analyst forecasts on Global New Material International Holdings Limited stock, see the HK:6616 Stock Forecast page.
More about Global New Material International Holdings Limited
Global New Material International Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands, operating in the new materials sector. Its shares are traded on the Stock Exchange of Hong Kong, and it has access to international capital markets, including listing of its debt instruments on overseas exchanges.
Average Trading Volume: 18,300,604
Technical Sentiment Signal: Buy
Current Market Cap: HK$10.65B
For an in-depth examination of 6616 stock, go to TipRanks’ Overview page.