China Merchants to adjust conversion price of 1.25% convertible bonds

By Marisa Wong

Madison, Wis., Feb. 27 - China Merchants Holdings (Pacific) Ltd. expects to adjust the conversion price of its HK$1,163,000,000 1.25% convertible bonds due 2017, according to a notice.

The adjustment is due to an interim dividend of S$0.0275 per share paid on Nov. 8 to shareholders of record as of Oct. 22 and a proposed final dividend of S$0.0425 per share for the year ended Dec. 31. The final dividend is still subject to shareholders' approval at a general meeting to be held on April 30.

The issuer said it will make a further announcement once the adjusted conversion price has been determined.

China Merchants is a toll road land development company based in Singapore.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.