Angang Steel lowers conversion price for zero-coupon bonds due 2023

By Wendy Van Sickle

Columbus, Ohio, June 7 – Angang Steel Co. Ltd. announced a fifth adjustment to the conversion price of its HK$1.85 billion of five-year zero-coupon bonds convertible into ordinary H shares, according to a press release.

Effective June 8, the conversion price will be adjusted to HK$6.06 per H share from HK$6.46 per H share previously.

The adjustment is the result of the shareholders having approved the payment of the final dividend of RMB 2.21 per share for the year ended Dec. 31, 2021 at the 2021 annual general meeting held on May 26.

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

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