Chaowei Power adjusts conversion price of 7.25% convertible bonds

By Marisa Wong

Madison, Wis., June 16 – Chaowei Power Holdings Ltd. announced it adjusted the conversion price of its RMB 633 million dollar-settled 7.25% convertible bonds due 2017 to HK$4.76 per share, effective June 16.

The adjustment is due to the declaration of final dividends for the years ended Dec. 31, 2012 and Dec. 31, 2013.

Based in Changxing, Zhejiang, China, Chaowei is a motive battery manufacturer operating in the electric bike market in China.

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