Lenovo trims conversion price for 3.375% convertibles due 2024

By William Gullotti

Buffalo, N.Y., July 22 – Lenovo Group Ltd. adjusted the conversion price of its $675 million 3.375% convertible bonds due 2024, according to a notice Thursday.

The conversion price will be lowered to HK$6.94 per share from HK$7.13 per share, effective July 29.

The adjustment is due to a dividend payment of HK$0.24 per share approved by shareholders July 20.

Lenovo is a Beijing-based technology company.

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