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

By Marisa Wong

Madison, Wis., Sept. 10 - 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$3.88 per share from HK$3.92 per share, effective Sept. 11.

The price adjustment results from an interim dividend for the six months ended June 30. The dividend will be payable on Sept. 23.

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

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