Sapporo adjusts conversion price of convertible bonds due 2021

By Rebecca Melvin

New York, March 27 – Sapporo Holdings Ltd. announced an adjustment to the conversion price of its ¥20 billion zero-coupon convertible bonds due 2021.

The conversion price has been changed to ¥3,958.70 from ¥3,961.70, according to a notice.

The company said the adjustment resulted from distribution of a year-end dividend for the fiscal year ended Dec. 31, 2019 in the amount of ¥42.00 per share, which was approved at the ordinary general meeting of shareholders held on March 27.

The effective date for the new conversion price was Jan. 1.

Sapporo is a Tokyo-based holding company for food, beverage and real estate companies.

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