United Microelectronics cuts conversion price of convertibles due 2016

By Marisa Wong

Madison, Wis., July 8 - United Microelectronics Corp. said it will lower the conversion price of its $500 million currency-linked zero-coupon convertible bonds due 2016 to $3.2482 per American Depositary Share from $3.3402 per ADS, effective July 15.

The price adjustment results from a cash dividend announced on June 19.

Based in Taiwan, United Microelectronics makes process integrated circuits for the semiconductor industry.

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