Shui On Land trims conversion price for 7.5% perpetual securities

By Marisa Wong

Morgantown, W.Va., June 6 – 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 lowered to HK$2.64 per share from HK$2.76 per share, effective June 7.

The adjustment is due to a final dividend of HK$0.084 per share for the year ended Dec. 31, which will be paid on June 21, according to a company announcement.

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

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