Sino Biopharmaceutical cuts conversion price of bonds due 2025

By Mary-Katherine Stinson

Lexington, Ky., June 15 – Sino Biopharmaceutical Ltd. adjusted the conversion price of its €750 million zero-coupon convertible bonds due 2025 due to payment of the final dividend for the year ended Dec. 31, according to a company announcement.

The conversion price will be decreased to HK$12.06 per share from HK$12.41 per share, effective June 29.

As of June 15, the outstanding principal amount of the bonds is €2.15 million.

The maximum number of shares that will be issued upon conversion of the outstanding bonds at the adjusted conversion price is 1,535,467 shares.

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

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