By Marisa Wong
Madison, Wis., April 13 - Shin Kong Financial Holding Co., Ltd. announced the conversion price for its second issue of domestic convertible corporate bonds on Friday. Shin Kong said it set the conversion price at NT$10.50 per share, representing an initial conversion premium of 14.13%.
The company announced last month that it planned to issue up to NT$5 billion of 0% convertible corporate bonds at par with a maturity of five years. The bonds were issued on April 5.
SinoPac Securities Co., Ltd. was the underwriter for the offering.
As noted before, proceeds will be used to support the company's business development, enhance its financial structure and pay back bank loans.
Shin Kong is an investment holding company based in Taipei, Taiwan.
| Issuer: | Shin Kong Financial Holding Co., Ltd.
|
| Issue: | Domestic convertible corporate bonds, second issue
|
| Amount: | Up to NT$5 billion
|
| Maturity: | Five years
|
| Underwriter: | SinoPac Securities Co., Ltd.
|
| Coupon: | 0%
|
| Price: | Par
|
| Conversion premium: | 14.13%
|
| Conversion price: | NT$10.50
|
| Announcement date: | March 6
|
| Issue date: | April 5
|
| Conversion price set date: | April 13
|
| Stock symbol: | Taiwan: 2888
|
| Stock price: | NT$9.20 at close April 12
|
| Market capitalization: | NT$76.43 billion
|
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