Hon Kwok Land reduces conversion price of 3.5% convertibles due 2011

By Devika Patel

Knoxville, Tenn., Sept. 8 - Hon Kwok Land Investment Co., Ltd. said it adjusted the conversion price of its HK$280 million in 3.5% convertible bonds due 2011 to HK$3.75 per share from HK$3.80 per share, effective Sept. 20.

The adjustment is due to a final dividend payment of HK$0.125 per share for the financial year ended March 31.

Based in Hong Kong, Hon Kwok invests in and develops real estate. The company either operates the properties it develops or sells them for profit.

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