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An update from Global New Material International Holdings Limited ( (HK:6616) ) is now available.
Global New Material International Holdings Limited announced the proposed issuance of HKD-denominated convertible bonds under a general mandate, with an aggregate principal amount of HK$1,000 million. The net proceeds of approximately HK$981 million will be used for working capital replenishment, refinancing existing debt, and general corporate purposes. The bonds are convertible into shares representing about 7.92% of the current total shares, and the company will seek listing on the Vienna MTF. The issuance is subject to conditions in the Subscription Agreement, and shareholders are advised to exercise caution.
The most recent analyst rating on (HK:6616) stock is a Buy with a HK$8.00 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 operates in the materials industry, focusing on the issuance of convertible bonds. The company is incorporated in the Cayman Islands and is listed on the Hong Kong Stock Exchange.
Average Trading Volume: 16,459,190
Technical Sentiment Signal: Buy
Current Market Cap: HK$11.51B
For an in-depth examination of 6616 stock, go to TipRanks’ Overview page.