DVN cuts conversion price of preference shares to 1.47 hkd from 1.50

DVN (Holdings) Ltd (0500) said it has adjusted the conversion price of its convertible preference shares to 1.47 hkd per share from 1.50 hkd. In a statement, the company said the exchange price of the exchangeable preference shares issued by its wholly-owned subsidiary DVN (Group) Ltd has also been adjusted to 4.69 hkd per share from 4.80 hkd. The adjustments to the prices were made after its shareholder Prime Pacific subscribed to 38.9 mln new shares of the company at 2.00 hkd per share, it said.

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