Pharmaron cuts conversion prices on two series of convertibles due 2026

By Mary-Katherine Stinson

Lexington, Ky., June 13 – Pharmaron Beijing Co. Ltd. announced adjustments to the conversion prices for its $300 million of 0% convertible bonds due 2026 and RMB 1.916 billion 0% dollar-settled convertible bonds due 2026, according to a notice Monday.

The conversion price of the series 1 $300 million tranche of 0% convertible bonds due 2026 will be adjusted downward to HK$166.42 from HK$250.75 per H share effective June 14.

The conversion price of the series 2 RMB 1.916 billion 0% convertible bonds due 2026 will be adjusted downward to HK$152.32 from HK$229.50 per H share effective June 14.

The adjustment was the result of the declaration of the final dividends and the capitalization of reserve by the company.

Citicorp International Ltd. is the trustee.

Pharmaron is a Beijing-based research and development service provider for the life sciences industry.

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