Kingsoft lowers conversion prices of 3% and 1.25% bonds

By Wendy Van Sickle

Columbus, Ohio, April 29 – Kingsoft Corp. Ltd. announced it has lowered the conversion prices of its outstanding HK$1 billion of 3% convertible bonds due 2018 and its outstanding HK$2,327,000,000 of 1.25% convertible bonds due 2019.

Effective June 2, the conversion price for the 3% convertibles is being lowered to HK$16.46 per share from HK$16.70, and the conversion price for the 1.25% bonds is being lowered to HK$42.67 per share from HK$43.29 per share.

The price adjustment is due to a final dividend of HK$0.10 for the year 2015 and the issue of 100 million additional shares on June 11, 2015.

Beijing-based Kingsoft is an investment holding company for a business that includes entertainment software and online games, information security software and other application software.

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