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Tongda lowers conversion price on 1% convertible bonds due 2018
By Marisa Wong
Morgantown, W.Va., Sept. 14 – Tongda Group Holdings Ltd. lowered the conversion price for its HK$880 million of 1% convertible bonds due 2018 to HK$1.75 per share from HK$1.77 per share.
The new conversion price is effective from Sept. 14, according to a company announcement.
The change is due to an interim dividend of HK$0.016 per share for the six months ended June 30 that was declared on Aug. 24.
Tongda is a supplier of high-precision components for consumer electronic products. The company is based in Hong Kong.
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