ASM Pacific Technology to lower conversion price of 2% convertibles

By Marisa Wong

Morgantown, W.Va., May 11 – ASM Pacific Technology Ltd. announced it will lower the conversion price of its HK$2.4 billion 2% convertible bonds due 2019 to HK$95.23 per share from HK$96.54 per share.

The new conversion price will take effect on May 18 following shareholders’ approval of a final dividend of HK$0.40 for the year ended Dec. 31. The final dividend, along with an interim dividend of HK$1.00 paid on Aug. 28, 2015, triggered the price adjustment.

As of May 11, the full HK$2.4 billion of the bonds remains outstanding.

ASM is an assembly and packaging equipment supplier for the semiconductor and LED industries. It is incorporated in the Cayman Islands.

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