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BTS Group lowers conversion price on five-year convertible bonds
By Marisa Wong
Madison, Wis., Jan. 13 - BTS Group Holdings PCL said it will adjust the conversion price of its convertible bonds due 2016 to 0.85 baht from 0.88 baht per share, effective Jan. 31.
The price adjustment is due to an upcoming interim dividend payment approved at a board of directors meeting on Friday.
The bonds were issued on Jan. 25, 2011. The conversion price was previously lowered from 0.9266 baht per share to 0.91 baht per share on March 15, 2011 and to 0.88 baht per share on July 5, 2011.
BTS is a Bangkok-based mass transit services provider and property development company.
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