Radiant Opto-Electronics sets conversion price for convertible bonds

By Marisa Wong

Madison, Wis., Jan. 16 - Radiant Opto-Electronics Corp. announced that the conversion price for its first issue domestic convertible bonds is NT$151.20 per share.

The conversion price reflects a conversion premium of 120% over the base price of NT$126.00, according to a Taiwan Stock Exchange notice.

As previously reported, Radiant priced NT$3 billion of the 0% five-year convertible bonds. The issue was announced on Oct. 24, but conversion terms had not yet been set.

Horizon Securities Co., Ltd. was the underwriter.

Proceeds from the convertibles will be used to repay bank loans and to fund the redemption of any put third issue zero-coupon euro convertible bonds.

Radiant is a backlight module manufacturer and research and development company based in Kaohsiung City, Taiwan.

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