Bekaert lowers conversion price for convertibles after dividend

New York, May 14 – Bekaert SA reduced the conversion price for its convertible bonds due 2021 to €50.71 from €51.25, according to a news release.

The change, effective May 11, follows approval at the annual general meeting of the company’s shareholders of a dividend of €1.10 per share, to be paid on May 15.

Bekaert made a corresponding adjustment to the threshold amount of the convertibles to €0.8906 from €0.90.

Bekaert is a Kortrijk, Belgium-based company that specializes in steel wire transformation and coatings.

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