Sino Biopharmaceutical cuts conversion price of bonds due 2025

By Taylor Fox

Chicago, July 20 – Sino Biopharmaceutical Ltd. plans to adjust the conversion price of its €750 million zero-coupon convertible bonds due 2025 as a result of a bonus issue, according to a news release.

The conversion price will be adjusted to HK$12.72 per share from HK$19.09 per share effective July 25.

The maximum number of conversion shares that will be issued upon conversion of the outstanding bonds at the current conversion price and the adjusted price is 338,380,041 shares and 507,836,084 shares, respectively, representing an increase of 169,456,043 shares issuable under the bonds.

Sino Biopharmaceutical is a Hong Kong-based medicine products business.

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