Nippn cuts conversion price of ¥25 billion 0% bonds due 2025

By William Gullotti

Buffalo, N.Y., June 29 – Nippn Corp., formerly known as Nippon Flour Mills Co., Ltd., trimmed the conversion price of its ¥25 billion of zero-coupon convertible bonds due 2025, according to a notice.

The conversion price was lowered to ¥2,279.3 from ¥2,287.9 as a result of a dividend payment of ¥36 per share that was approved by shareholders at a general meeting on Tuesday.

The effective date is April 1, and the record date is March 31.

The Tokyo-based company produces and sells flour.

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