AU Optronics lowers conversion price on 0% convertibles due 2015

By Marisa Wong

Madison, Wis., Aug. 1 – AU Optronics Corp. lowered the conversion price of its $800 million zero-coupon convertible bonds due 2015 to NT$39.46 from NT$39.90, according to a notice.

The new conversion price took effect on Aug. 1 and is due to a cash distribution payable to shareholders of record on Friday.

The cash distribution was approved by shareholders at a meeting on June 6.

On June 30 the company announced the anticipated conversion price adjustment and said the bonds could not be converted during the closed period from July 7 to Aug. 1.

AU Optronics designs, manufactures and markets flat-panel displays and is based in Hsin-Chu, Taiwan.

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