Sino Biopharmaceutical cuts conversion price of bonds due 2025

By William Gullotti

Buffalo, N.Y., June 16 – Sino Biopharmaceutical Ltd. adjusted the conversion price of its €750 million zero-coupon convertible bonds due 2025 as a result of the payment of the final dividend for 2020, according to a news release.

The conversion price will be adjusted to HK$12.56 per share from HK$12.72 per share effective June 26.

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 514,305,333 shares and 507,836,084 shares, respectively, representing an increase of 6,469,249 shares issuable under the bonds.

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

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