Shui On Land cuts conversion price of dollar-settled 4.5% convertibles

By Marisa Wong

Madison, Wis., May 20 - Shui On Land Ltd. announced it adjusted the conversion price of its RMB 2.72 billion dollar-settled 4.5% convertible bonds due 2015 to HK$4.70 per share from HK$4.78 per share, effective June 30.

The price adjustment is due to a final dividend payment for the year ended Dec. 31.

Shui On Land is a Hong Kong-based property development company.

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