India's Sharon Bio-Medicine cuts conversion price on convertibles

By Devika Patel

Knoxville, Tenn., Sept. 17 - Sharon Bio-Medicine Ltd. said it adjusted the conversion price of its $16.5 million in foreign currency convertible bonds to Rs. 228.04 per share from Rs. 252 per share, effective May 26.

The change was due to a price reset date scheduled for May 26.

Sharon Bio-Medicine is a Mumbai, India-based pharmaceutical company.

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