HLB (028300) announced on the 16th through a regulatory filing that it has lowered the conversion price of its 39th convertible bonds (CB) from the existing KRW 65,831 to KRW 46,167. The adjusted conversion price takes effect immediately from this date.

According to the terms of the convertible bond issuance, the conversion price is required to be adjusted every three months following issuance to reflect the market price. This adjustment was made pursuant to an automatic adjustment clause triggered by the recent decline in market price. The company explained that the calculated reference stock price fell below the minimum adjustment limit, resulting in the minimum adjustment price of KRW 46,167 being set as the final conversion price. As this was an automatic adjustment, no separate board resolution was required.

Accordingly, based on the unconverted convertible bonds (total face value of KRW 770 million), the number of shares convertible has increased from the previous 11,696 shares to 16,678 shares.