Kawasaki fixes conversion price of zero-coupon notes for reverse split

By Susanna Moon

Chicago, June 23 – Kawasaki Kisen Kaisha, Ltd. adjusted the conversion price for its ¥50 billion zero-coupon convertible bonds due 2018 for its planned consolidation of shares.

The conversion price will be changed to ¥3,056 from ¥305.6, effective Oct. 1.

The company’s shareholders approved consolidating 10 shares into 1 share with a record date of Sept. 30 at a meeting held Friday, according to a notice.

Kawasaki Kisen Kaisha is a marine shipping company based in Tokyo.

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