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China Hongqiao Cuts Conversion Price of $300 Million Bonds Due 2030

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China Hongqiao Group (HKG:1378) slashed the conversion price of certain convertible bonds due 2030 to HK$18.44 per share from HK$19.36 apiece, effective Wednesday, according to a Tuesday Hong Kong bourse filing.

The bonds comprise $300 million of 1.5% convertible bonds maturing in four years.

The move came following the payment of a dividend to the firm's shareholders.

Following the adjustment, the number of conversion shares to be issued on full conversion will increase by over 6 million, bringing the total to more than 126.4 million.

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