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Shui On Land lowers conversion price of 4.5% convertibles to HK$4.78
By Melissa Kory
Cleveland, Nov. 8 - Shui On Land Ltd. announced that the conversion price of its RMB 2.72 billion 4.5% convertible bonds due Sept. 29, 2015 has been lowered to HK$4.78 from HK$4.87, effective Nov. 8.
On Aug. 19, a HK$0.06 per share interim dividend was established for the six months ended June 30. The interim dividend will be payable in cash or shares, scrip dividend. Holders of 3,696,250,910 shares have elected to receive scrip dividend. The remaining holders of 1,457,583,151 shares will receive cash dividend. The adjustment to the conversion price is a result of the cash dividend. The scrip dividend requires no change.
Shui On Land is a property development company based in Hong Kong.
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