Lenovo trims conversion price for convertibles due 2024, 2029

By Mary-Katherine Stinson

Lexington, Ky., July 20 – Lenovo Group Ltd. adjusted the conversion price of its $675 million 3.375% convertible bonds due 2024 and its $675 million 2.5% convertible bonds due 2029, according to notices on Thursday.

The conversion price of the 2024 bonds will be lowered to HK$6.25 per share from HK$6.51 per share, effective July 29.

The conversion price of the 2029 bonds will be lowered to HK$9.42 per share from HK$9.80 per share, effective July 29.

The adjustments are due to the cash dividend payment of HK$0.30 per share announced July 20.

Lenovo is a Beijing-based technology company.

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