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LONDON (Alliance News) - Chenavari Toro Income Fund Ltd said Thursday that it has purchased EUR7.2 million worth of shares under a previously announced tender offer.
The company said 8.6 million shares were validly tendered pursuant to the offer and were purchased at price of EUR0.8341 per share. Shares purchased by the company under the offer will be held as treasury shares.
Chenavari Toro in January launched a tender offer to buy up to 5.0% of its issued share capital in a bid to improve liquidity. The company planned to make available a certain number of treasury shares for purchase by investors.
Shares in the investment fund were untraded at EUR0.792 on Thursday.