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Taiwan's Ritek buys back $14.45 million 0.5% convertibles
New York, May 20 - Ritek Corp. said it bought back $14.45 million of its 0.5% convertible bonds due 2007.
The Taiwanese optical disk, photonics and electronics company paid 121.693% of par for the securities for a total of $17.585 million.
Following the buyback, Ritek has repurchased $97.158 million of the original $175 million of the convertibles.
Ritek said on May 17 it bought back $24.3 million of the 0.5% convertibles at 121.635% of par, on May 14 that it bought back $9.778 million at 121.875% and on May 11 that it bought back $12.78 million at 121.775%.
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