Guotai Junan lowers conversion price on A share convertibles

By William Gullotti

Buffalo, N.Y., June 20 – Guotai Junan Securities Co., Ltd. has lowered the conversion price of its A share convertible corporate bonds to RMB 17.24 per share from RMB 17.77 per share beginning June 29, according to a company announcement.

The change is due to a dividend distribution of RMB 5.3 per 10 shares.

The conversion of the convertible bonds into equity will be suspended on June 19 until June 29.

The investment bank is based in Shanghai.

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