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Shui On Land cuts conversion price of dollar-settled 4.5% convertibles
By Marisa Wong
Madison, Wis., June 4 - Shui On Land Ltd. announced it will lower the conversion price of its RMB 2.72 billion dollar-settled 4.5% convertible bonds due 2015 to HK$3.92 per share from HK$3.97 per share, effective June 5.
The price adjustment follows shareholders' approval of a final dividend for the year ended Dec. 31. The dividend will be payable on June 18.
Shui On Land is a Hong Kong-based property development company.
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