Johnson Electric may adjust conversion price on 1% convertibles

By Marisa Wong

Morgantown, W.Va., July 14 – Johnson Electric Holdings Ltd. said it may adjust the conversion price for its 1% convertible bonds due 2021.

The potential adjustment is due to a final dividend of HK$0.34, payable on Aug. 12 to shareholders of record as of Aug. 3.

The new conversion price will be disclosed in a later announcement.

The company issued $200 million of the 1% convertible bonds in March 2014.

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

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