Lonking cuts conversion prices on 0% convertibles due 2012, 2014

By Marisa Wong

Madison, Wis., Dec. 30 - Lonking Holdings Ltd. said that it adjusted the conversion prices on its $287 million zero-coupon convertible bonds due 2012 and its $135 million zero-coupon convertible bonds due 2014.

The conversion price for the 2012 bonds was lowered to HK$4.62 from HK$4.7076 per share. The conversion price for the 2014 bonds was lowered to HK$3.34 from HK$3.40 per share. The price adjustments were effective Nov. 30.

The conversion prices were previously adjusted in July and in October following a final dividend payment and a bonus issue, respectively.

The most recent price adjustment is the result of an interim dividend payment.

Lonking is a maker of wheel loaders and other infrastructure machinery based in Hong Kong.

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