Pacific Basin Shipping (HKG:2343) slashed the conversion price of $175 million of 3% convertible bonds due 2025, to HK$1.35 per share from HK$1.39 apiece previously, a Friday Hong Kong bourse filing said.
The company is the guarantor for the bonds, which were issued by a subsidiary in 2019.
The move came about after the cargo shipping company declared a final dividend of HK$0.051 per share for the year 2024, according to a late Thursday disclosure.
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