Shenzhou International to trim conversion price of 0.5% convertibles

By Marisa Wong

Morgantown, W.Va., March 27 – Shenzhou International Group Holdings Ltd. said it will lower the conversion price of its 0.5% convertible bonds due 2019.

The conversion price will be adjusted to HK$37.01 per share from HK$37.50 per share, effective June 10, according to a company notice.

The adjustment is due to a planned dividend for the year ended Dec. 31, subject to shareholder approval.

Shenzhou International sold 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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