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ESR trims conversion price of $350 million 1.5% convertibles due 2025
By Wendy Van Sickle
Columbus, Ohio, Sept. 15 – ESR Cayman Ltd. lowered the conversion price per share of its 1.5% convertible bonds due Sept. 30, 2025 to HK$31.29 from HK$31.61, effective Sept. 15, according to a company notice.
The reduction of the conversion price is the result an interim dividend of HK$12.5 per share that will be paid on Sept. 29 to the company’s shareholders of record as of Sept. 14.
ESR is a Hong Kong-based integrated logistics real estate platform focused on development, fund management and investment activities.
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