LONDON (Alliance News) - Aberdeen Frontier Markets Investment Co Ltd on Monday said it plans to launch a tender offer after its share price discount to net asset value per share widened.
The trust said it noted that its shares have traded at an average discount of 10% to the net asset value per share over the three month period to the end of June.
As a result, Aberdeen Frontier said it decided to implement a tender offer for up to 15% of the issued share capital at a price equal to 98% of the prevailing NAV.
The stock was 1.4% higher at 56.50 pence per share on Monday afternoon.
The company said shareholders will be entitled to tender a number of shares in excess of 15% of shares held by them.