New World China resets conversion price on zero-coupon convertibles

By Devika Patel

Knoxville, Tenn., Dec. 2 - New World China Land Finance Ltd. said it adjusted the conversion price of its RMB 255 billion in zero-coupon guaranteed convertible bonds due 2012 to HK$7.81 per share from HK$7.92 per share, effective Dec. 2.

The change is a result of a dividend payment of HK$0.02 per share for the year ended June 30.

Based in Hong Kong, New World China is an investment holding company principally engaged in investment and development of property projects in the People's Republic of China.

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