Fong's Industries cuts conversion price for 0% convertibles due 2011

By Laura Lutz

Des Moines, May 29 - Fong's Industries Co. Ltd. announced that the conversion price of its zero-coupon convertible bonds due 2011 has been lowered to HK$7.81 per share from HK$8.02.

The adjustment was triggered under the terms of the bonds when the company's shareholders approved a final dividend and a special dividend of HK$0.15 for the year ended Dec. 31.

The new conversion price became effective on May 25.

Fong's is a textile company based in Hong Kong.

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