Towngas moves conversion price on bonds to HK$6.18 per share

Chicago, July 11 – Towngas Smart Energy Co. Ltd. announced it lowered the conversion price on its convertible bonds further, to HK$6.18 per share from HK$6.26 per share, according to a notice.

There are currently RMB 1,835,603,119.35 of the bonds outstanding.

The adjustment is due to an issuance of scrip shares at HK$3.49 per share pursuant to a scrip dividend scheme whereby shareholders may elect to receive new shares due to a dividend of HK$0.15 per share.

The new conversion price takes effect July 11.

Previously known as Towngas China Co., Ltd., Towngas is a China-based city-gas investor and operator listed in Hong Kong.

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