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Tongda to lower conversion price on 1% convertible bonds due 2018
By Marisa Wong
Morgantown, W.Va., Sept. 8 – Tongda Group Holdings Ltd. announced it will lower the conversion price of its HK$880 million 1% convertible bonds due 2018 to HK$1.85 per share from HK$1.88 per share, effective Sept. 9.
The adjustment is due to the declaration of an interim dividend for the six months ended June 30.
Tongda is a supplier of high-precision components for consumer electronic products. The company is based in Hong Kong.
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