Zhejiang Expressway cuts conversion price on 0% convertibles due 2022

By Marisa Wong

Morgantown, W.Va., June 29 – Zhejiang Expressway Co. Ltd. will adjust the conversion price of its €365 million zero-coupon convertible bonds due 2022, according to a company announcement.

The conversion price will be lowered to HK$12.00 per H share from HK$12.54 per H share, effective July 12.

The adjustment is due to a final dividend for the year ended Dec. 31, 2017.

Zhejiang is an infrastructure company based in Hangzhou, China.

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