Park24 lowers conversion prices on 0% convertibles due 2018

New York, Jan. 25 – Park24 Co. Ltd. lowered the conversion price on its outstanding ¥20 billion of zero-coupon convertible bonds due 2018, according to a company announcement.

The conversion price was lowered to ¥2,611.50 from ¥2,621.80, effective retroactively from the day after Oct. 31.

The adjustments were due to a dividend of ¥70 per share, part of which amounts to an extraordinary dividend. The payment of the dividend was approved at a general shareholders meeting on Thursday.

The provider of parking facilities is based in Tokyo.

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