Luye Pharma adjusts conversion price of 1.5% convertibles due 2024

By Sarah Lizee

Olympia, Wash., Sept. 5 – Luye Pharma Group Ltd. announced an adjustment to the conversion price of its $300 million of 1.5% convertible bonds due 2024.

The conversion price will be adjusted to HK$8.05 per share from HK$8.15 per share previously.

The adjustment, effective starting Sept. 14, is due to the declaration of the interim dividend of RMB 0.059 per share for the six months ended June 30.

Other terms of the convertibles are unchanged.

The Yantai, China-based company focuses on the research and development, production and sales of pharmaceutical drugs for orthopedics, neurology, gastroenterology and hepatology.

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