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Shui On Land cuts conversion price of dollar-settled 4.5% convertibles
By Marisa Wong
Madison, Wis., July 16 - Shui On Land Ltd. announced it lowered the conversion price of its RMB 2.72 billion dollar-settled 4.5% convertible bonds due 2015 to HK$4.53 per share from HK$4.65, effective July 16.
The price adjustment is due to a final dividend payment for the year ended Dec. 31, 2011.
Shui On Land is a Hong Kong-based property development company.
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