Genertec Universal adjusts conversion price of convertibles due 2026

By Mary-Katherine Stinson

Lexington, Ky., June 15 – Genertec Universal Medical Group Co. Ltd. has cut the conversion price of its $150 million guaranteed convertible bonds due 2026, according to a notice.

The conversion price will be adjusted to HK$6.09 per share from HK$6.28 per share effective June 16 to reflect a final dividend payment to shareholders of the underlying stock.

As of June 15, the total number of the issued shares of the company is 1,891,539,661.

Following the adjustment and assuming full conversion, the bonds will be convertible into 191,349,753 conversion shares, representing 10.12% of the issued share capital of the company on June 15 and 9.19% of the issued share capital of the company as enlarged by the conversion shares issuance.

The health care company is based in Hong Kong.

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