Chaoda lowers conversion price on 0% convertibles due 2011

By Devika Patel

Knoxville, Tenn., Dec. 11 - Chaoda Modern Agriculture (Holdings) Ltd. said it adjusted the conversion price of its HK$1.34 billion in guaranteed zero-coupon secured convertible bonds due 2011 to HK$5.08 per share from HK$5.29 per share.

The change is a result of a bonus issue, which was approved by the shareholders at the annual general meeting on Dec. 10.

Chaoda is a Fuzhou, China, and Wanchai, Hong Kong-based organic farming company.

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