SGX adjusts conversion price of €240m convertible bonds 

The adjusted conversion price will be $12.0532.

The Singapore Exchange  (SGX) will adjust the conversion price of its €240m zero coupon guaranteed convertible bonds due 2024 from $12.2640 to $12.0532, taking into account its dividend for FY23.

In a bourse filing, SGX's payment of its proposed final dividend of $0.085 per ordinary share for FY23 will result in an adjustment to the conversion price of its convertible bonds.

SGX adjusted the conversion price based on the formula set out in Condition 6(C)(3) (Distributions) of the terms and conditions of the convertible bonds.

The proposed final dividend is still subject to approval of SGX shareholders at their 24th Annual General Meeting of SGX on 5 October.