Changes in Hong Kong stocks | Global New Materials International (06616) fell by more than 10%, and the company plans to issue HK$1 billion convertible bonds to optimize the company's capital structure

The Zhitong Finance App learned that Global New Materials International (06616) crashed last day and fell by more than 10% in early trading today. As of press release, it was down 9.09% to HK$9.4, with a turnover of HK$308.21,000.

According to the news, Global New Materials International recently announced that it plans to issue convertible bonds with a total principal amount of HK$1 billion. Based on the initial exchange price of HK$10.19 per share, the convertible bonds will be converted into approximately 98.1354 million shares, equivalent to approximately 7.92% of the existing issued shares. The net proceeds of approximately HK$981 million will be mainly used to supplement working capital, refinance existing debts and general corporate purposes.

Guojin Securities said that this financing will not only optimize the company's capital structure and improve cash flow stability, but will also provide a solid financial guarantee for the company's core product R&D and upgrading, global market expansion, and industrial chain integration, further consolidating its leading position in the global pearlescent materials field.