Nectar trims conversion price on foreign currency convertibles

By Devika Patel

Knoxville, Tenn., Oct. 31 - Nectar Lifesciences Ltd. informed the Bombay Stock Exchange that it adjusted the conversion price of its foreign currency convertible bonds issued on April 25, 2006 to Rs. 25.996 from Rs. 259.96.

The change is due to a subdivision of each equity share, valued at Rs. 10 each, into 10 equity shares, valued at Rs. 1 each.

Nectar Lifesciences is a Chandigarh, India-based maker of active pharmaceutical ingredients.

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