China Singyes Solar corrects conversion price on 5% convertibles

By Marisa Wong

Morgantown, W.Va., Nov. 8 – China Singyes Solar Technologies Holdings Ltd. said the conversion price of its RMB 930 million of 5% dollar-settled convertible bonds due 2019 was lowered to HK$15.72 per share from HK$15.84 per share.

In July, the company announced an adjustment to HK$15.69 per share from HK$15.99 per share. On Tuesday, the company issued a correction to the previous announcement, noting some calculation errors.

The adjustment, effective from July 20, was made as a result of a rights issue and by factoring in the effect of 2014 and 2015 final dividends.

China Singyes designs renewable energy systems and is based in Zhuhai, Guangdong, China.

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