United Laboratories adjusts conversion price on $130 million bonds

By Taylor Fox

Chicago, July 24 – United Laboratories International Holdings Ltd. has adjusted the conversion price of its $130 million convertible bonds due 2021.

The price was lowered to HK$4.65 per share, effective July 9.

If the outstanding bonds are fully converted at the third adjusted conversion price, an aggregate of 18,181,434 shares will be issued by United Laboratories, representing 1% of the issued share capital and approximately 0.99% of the enlarged issued share capital of the company.

The third adjusted conversion price is based on the final dividend distribution for the financial year that ended Dec. 31, 2019.

United Laboratories is a Hong Kong-based holding company for pharmaceutical businesses.

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