Taiwan’s OFCO cuts conversion price for corporate bonds

By William Gullotti

Buffalo, N.Y., Dec. 29 – OFCO Industrial Corp. lowered the conversion price of its second secured corporate bonds, according to a notice Wednesday.

The conversion price will be lowered to NT$17.20 per share from NT$18.00 effective Dec. 30.

According to the notice, the adjustment is due to the company’s issuance of 12.5 million common shares to increase private equity capital.

The Taiwan-based company manufactures and markets a variety of bolts, screws, nuts, washers and steel wire rods.

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