Far East Consortium raises zero-coupon convertible conversion price

By Angela McDaniels

Seattle, Feb. 28 - Far East Consortium International Ltd. said it increased the conversion price of its HK$754.4 million zero-coupon convertible bonds due 2009 to HK$3.10 from HK$3.07 on Tuesday.

The adjustment was made due to the declaration of an interim dividend of HK$0.04 per ordinary share of HK$0.10 each for the six months ended Sept. 30, according to a company news release.

Far East is a real estate development and hotel company based in Hong Kong.

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