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CCT Fortis lowers conversion price on convertible bonds due 2024
By Marisa Wong
Morgantown, W.Va., May 31 – CCT Fortis Holdings Ltd. announced an adjustment to the conversion price of its convertible bonds due 2024.
The conversion price will be lowered to HK$0.87 per share from HK$0.90 per share, effective June 1.
The adjustment is due to a final dividend of HK$0.035 per share for the year ended Dec. 31 approved by shareholders on May 23.
As of Tuesday, there is HK$250.2 million principal amount of the bonds outstanding.
CCT Fortis’ businesses include property development and capital investment. The Hong Kong company also manufactures and sells telecommunications products and accessories.
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