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Xinyu Hengdeli cuts conversion price for 0% convertible bonds due 2012
By Devika Patel
Knoxville, Tenn., Sept. 11 - Xinyu Hengdeli Holdings Ltd. said it has decreased the conversion price on its RMB 437 million in remaining zero-coupon convertible bonds due 2012.
Due to a bonus issue, the conversion price has been lowered to HK$4.71 from HK$7.06, effective Sept. 12.
Xinyu Hengdeli is a Hong Kong-based watch retailer and wholesaler.
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