China Merchants to lower conversion price on 1.25% convertible bonds

By Marisa Wong

Morgantown, W.Va., April 22 – China Merchants Holdings (Pacific) Ltd. announced an upcoming adjustment to the conversion price of its HK$1,163,000,000 1.25% convertible bonds due 2017.

The conversion price will be lowered to S$0.757 from S$0.776, effective May 6.

The adjustment is due to a preferential offering, an interim dividend and a final dividend.

Currently, HK$150 million of the bonds remains outstanding.

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.