Sumitomo Metal lowers conversion price for 0% convertibles due 2023

New York, June 26 – Sumitomo Metal Mining Co., Ltd. reduced the conversion price for its zero-coupon convertible bonds due 2023 to ¥7,766 from ¥7,777, according to a notice.

The change, effective April 1, follows the approval at the ordinary general meeting of shareholders held on Tuesday of a year-end dividend of ¥66 per share on the company’s common stock.

Sumitomo Metal Mining is a Tokyo-based company involved in mining, smelting and refining, and the manufacture of semiconductors and advanced materials.

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