Far East Consortium to cut conversion price of 3.625% convertibles

By Marisa Wong

Madison, Wis., Sept. 16 - Far East Consortium International Ltd. said it will adjust the conversion price of its HK$800 million 3.625% convertible bonds due 2015.

The conversion price will be lowered to HK$3.30 from HK$3.41, effective Sept. 21.

The price adjustment is due to a final dividend payment for the year ended March 31.

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

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