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Glory River cuts conversion price of HK$3.88 billion 1% convertibles
By Marisa Wong
Madison, Wis., June 5 – Glory River Holdings Ltd. said 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$9.868 per share from HK$10.00 per share. The new conversion price is effective June 14.
The adjustment was the result of a final dividend for the year ended Dec. 31.
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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