Angang Steel adjusts conversion price for zero-coupon bonds

By Sarah Lizee

Olympia, Wash., June 8 – Angang Steel Co. Ltd. announced an adjustment to the conversion price of its HK$1.85 billion of five-year zero-coupon bonds convertible into ordinary H shares.

Effective June 9, the conversion price will be adjusted to HK$6.61 per H share from HK$6.76 per H share previously.

The adjustment is the result of the shareholders having approved the payment of a cash dividend of RMB 0.57 per share for the year ended Dec. 31, 2019 at the 2019 annual general meeting held on May 28.

Angang is a steel maker based in Anshan, China. Its parent company is Anshan Iron and Steel Group.

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