Hynix slashes conversion price for planned bond
SEOUL, Aug 28 (Reuters) - Hynix Semiconductor Inc (000660.KS: Quote, Profile, Research, Stock Buzz) said on Thursday it had lowered the share conversion price of its planned domestic bond by 14 percent.
Hynix, which is issuing 500 billion won ($462.3 million) in convertible bonds on Sept. 5, said in a filing with the Korea Exchange that the price for which the bonds would be converted into common stocks was set at 24,960 won per share. It had previously set the price at 29,120 won. ($1=1081.6 Won) (Reporting by Rhee So-eui; editing by Jonathan Hopfner)
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