China MeiDong Adjusts Convertible Bond Terms

China MeiDong Auto Holdings (HK:1268) has released an update.

China MeiDong Auto Holdings Limited has announced an adjustment to the conversion price of its HK$2,750,000,000 zero-coupon convertible bonds due 2027, following cash dividend distributions. The conversion price has decreased from HK$44.7582 to HK$44.1764 per share, which allows for an increased number of shares to be issued upon full conversion, up by 551,123 shares. The company will seek the listing of these additional shares on the Stock Exchange and has notified bondholders of the price adjustment.

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