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Country Garden reduces conversion price of 2.5% convertibles due 2013
By Marisa Wong
Madison, Wis., March 13 - Country Garden Holdings Co. Ltd. said it adjusted the conversion price of its RMB 781 million of outstanding dollar-settled 2.5% convertible bonds due 2013.
The conversion price was lowered to HK$9.01 per share from HK$9.05 per share, effective March 8.
The price adjustment follows an issuance of new shares under a subscription agreement.
Country Garden is a Hong Kong-based property developer.
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