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Shui On shaves conversion price of 7.5% perpetuals due to dividend
By Susanna Moon
Chicago, June 1 – Shui On Land Ltd. said it reduced the conversion price of its $225 million of 7.5% senior convertible perpetual securities.
The conversion price was cut to HK$2.82 per share from HK$2.92 per share, effective June 2.
The change was due to the final dividend of HK$0.07 per share for the year ended Dec. 31, which will be paid out June 15 and was approved at a shareholder meeting May 16, according to a company announcement.
Shui On Land is a Hong Kong-based property development company.
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