Flexium to cut conversion price on 0% euro convertibles due 2015

By Marisa Wong

Madison, Wis., Aug. 22 - Flexium Interconnect, Inc. gave notice of an adjustment to the conversion price of its zero-coupon convertible bonds due 2015.

The conversion price will be lowered to NT$120.3 from NT$128, effective Sept. 12.

The price adjustment is due to a cash and stock dividend payment approved at a shareholders' meeting on May 30 and scheduled for Sept. 12.

Flexium priced $50 million of the euro convertibles on June 29 at par. The bonds settled on July 11.

The bonds are callable in whole at par at any time and putable at 102.01 after two years.

The Kaohsiung, Taiwan-based company manufactures flexible printed circuit boards.

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