LEG Immobilien SE, a German real estate service provider, has announced an adjustment to the conversion price of its EUR 400 million convertible bond due on September 1.
The adjustment follows the company’s dividend payment for fiscal 2024. As a result, the conversion price has been reduced from 113.25 euros to approximately 112.96 euros.
Key details of the adjustment are as follows:
- Original conversion price: 113.25 euros
- New conversion price: approximately 112.96 euros
- Date of adjustment: following the company’s dividend payment for fiscal 2024
The adjustment is expected to have practical implications for bondholders. The company’s shares have experienced a moderate decline in recent times, but the adjustment is seen as a positive step in maintaining investor confidence.