Glory River cuts conversion price of HK$3.88 billion 1% convertibles

By Marisa Wong

Madison, Wis., Nov. 27 - 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$10.175 per share from HK$10.939 per share, effective Nov. 26.

The price adjustment was the result of a rights issue.

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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