ABC-Mart to lower conversion price of 0% convertibles due 2018

By Marisa Wong

Madison, Wis., May 18 – ABC-Mart, Inc. said it will adjust the conversion price of its ¥33 billion zero-coupon convertible bonds due 2018.

The conversion price will be lowered to ¥4,556.5 from ¥4,588.0.

The adjustment, which will take effect retroactively to March 1, is due to payment of a final dividend for the year ended Feb. 28. The dividend is subject to shareholders’ approval at a meeting to be held May 27.

The shoe retailer is based in Tokyo.

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