Park24 trims conversion price on zero-coupon convertibles due 2025

By Rebecca Melvin

New York, April 27 – Park24 Co. Ltd. lowered the conversion price on its zero-coupon convertible bonds due 2025, according to a company announcement.

The conversion price was lowered to ¥3,823.8 from ¥3,847, effective April 28.

The conversion price adjustment was made due to the company’s issue of 16 million new shares. The issue was approved at a board meeting on April 12.

The provider of parking facilities is based in Tokyo.

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