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Glory River cuts conversion price of HK$3.88 billion 1% convertibles
By Angela McDaniels
Tacoma, Wash., Aug. 30 - Glory River Holdings Ltd. said that it adjusted the conversion price of its HK$3,875,000,000 1% convertible bonds due 2015 guaranteed by China Agri-Industries Holdings Ltd.
The conversion price was lowered to HK$11.11 per share from HK$11.248 per share. The change will become effective on Sept. 17.
The price adjustment was the result of the interim dividend of HK$0.079 per share declared on the company's ordinary shares.
Glory River is a subsidiary of China Agri-Industries, which is the Hong Kong unit of China's food manufacturer and trader, Cofco Ltd.
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