Johnson Electric to hike conversion price on 1% convertible bonds

By Marisa Wong

Madison, Wis., July 8 – Johnson Electric Holdings Ltd. said it will increase the conversion price of its 1% convertible bonds due 2021 to HK$31.03 per share from HK$10.2575 per share, effective July 15.

The adjustment is due to a share consolidation that takes effect on July 15.

The company issued $200 million of the 1% convertible bonds in March.

Johnson Electric is a Shatin, Hong Kong, provider of motion subsystems and motion components for automotive and industrial applications.

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