Agile Property cuts conversion price of 4% convertibles due 2016

By Marisa Wong

Madison, Wis., May 10 - Agile Property Holdings Ltd. said that it adjusted the conversion price of its $500 million 4% convertible bonds due 2016.

The conversion price was lowered to HK$17.416 per share from HK$17.839 per share, effective May 18.

The price adjustment follows from approval of a dividend payment.

Agile Property is a Hong Kong-based land development company.

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