First Steamship updates conversion price for 0% convertibles due 2014

By Marisa Wong

Madison, Wis., Oct. 12 - First Steamship Co., Ltd. updated the conversion price for its newly issued 0% overseas convertible bonds due 2014. The company said it adjusted the conversion price to NT$39.1 per share from NT$39.09 per share to satisfy a rounding requirement.

First Steamship issued $20 million of the bonds on Oct. 7.

As previously reported, the bonds are convertible at any time beginning one month from the issue date.

First Steamship is a Taipei, Taiwan-based shipping company.

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