Cosmopolitan unit cuts conversion price of convertible bonds

By Mary-Katherine Stinson

Lexington, Ky., Dec. 4 – Cosmopolitan International Holdings Ltd.’s wholly owned subsidiary, Apex Team Ltd., announced an adjustment to the conversion price of its outstanding HK$300 million Cosmo convertible bonds, according to a notice.

Upon completion of the Cosmo bonus issue on Dec. 4, the conversion price of the bonds was lowered to HK$1.333 per share from HK$4 per share.

The bonds are convertible into 225 million Cosmo consolidated shares at the adjusted conversion price.

Cosmopolitan is a Hong Kong-based investment holding company.

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