Far East lowers conversion price on zero-coupon convertibles due 2009

By Devika Patel

Knoxville, Tenn., Oct. 8- Far East Consortium International Ltd. said it lowered the conversion price of its $66.99 million zero-coupon convertible bonds due 2009 to HK$1.899 from HK$2.00. The company also lowered the conversion price on its HK$754.4 million zero-coupon convertible bonds due 2009 to HK$2.81 from HK$2.96.

Both adjustments take effect on Wednesday.

The adjustments were made due to the declaration of a final dividend of HK$0.10 per ordinary share of HK$0.10 each for the year ended March 31, according to a company news release.

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

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