Pace cuts conversion price on $25 million in 1% convertibles due 2012

By Devika Patel

Knoxville, Tenn., May 5 - Pace (Pakistan) Ltd. said it has adjusted the conversion price on its $25 million in 1% senior convertible bonds due 2012 to Rs. 14.30 per share from Rs. 19.24 per share, effective May 3.

Pace is a Lahore, Pakistan-based real estate development company.

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