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BTS Group to lower conversion price on five-year convertible bonds
By Marisa Wong
Madison, Wis., June 14 - BTS Group Holdings PCL said it will adjust the conversion price of its convertible bonds due 2016 to 0.82 to 0.83 baht per share from 0.85 baht per share, effective June 29.
The exact adjusted conversion price will be announced on June 25.
The price adjustment is due to an anticipated dividend payment.
The bonds were issued on Jan. 25, 2011. The conversion price was previously lowered from 0.9266 baht per share to 0.91 baht per share on March 15, 2011, to 0.88 baht per share on July 5, 2011 and to 0.85 baht per share on Jan. 31.
BTS is a Bangkok-based mass transit services provider and property development company.
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