Shenzhou International to lower conversion price on 0.5% convertibles

By Marisa Wong

Madison, Wis., March 25 – Shenzhou International Group Holdings Ltd. announced it will lower the conversion price of its 0.5% convertible bonds due 2019 to HK$38.00 per share from HK$38.56 per share.

The adjustment is due to a final dividend for the year ended Dec. 31, which is subject to shareholders’ approval.

The new conversion price will take effect on June 13, the date immediately after the record date for the final dividend.

Shenzhou International priced HK$3.9 billion of the 0.5% convertibles in May 2014.

The Hong Kong-based company manufactures and sells knitwear products.

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