Silkwave (HKG:0471) said the conversion price of its convertible bonds will be adjusted to HK$7 per consolidated share from Thursday from the previous HK$0.35 per existing share, a same-day filing with the Hong Kong Exchange said.

The complete conversion of the convertible bonds with an outstanding principal amount of $12 million as of the date of the filing, will yield 266,742,857 existing shares at the previous conversion price and 13,337,142 consolidated shares at the adjusted conversion price.

The satellite infotainment multimedia technology and services company's shares closed nearly 14% lower on Thursday.

Price (HKD): $0.04, Change: $-0.0060, Percent Change: -13.64%