IN BRIEF: abrdn Asia Focus joins FTSE 250 amid Urban Logistics buyout

abrdn Asia Focus PLC - investor in smaller, listed companies in Asia and Australasia - Will be promoted to FTSE 250 index from Monday, index operator FTSE Russell said Wednesday. The investor will replace Urban Logistics REIT PLC, which is being acquired by LondonMetric Property PLC.

LondonMetric in May said it agreed to acquire Urban Logistics REIT in a cash-and-share deal worth approximately GBP698.9 million at the time. Under the terms of the agreement, each Urban Logistics shareholder will receive 0.5612 new LondonMetric shares and 42.8 pence in cash. The deal was backed Urban Logistics shareholders earlier in June. Court sanctioning of the takeover scheme is expected on Friday, before becoming effective on Monday. The last day of dealings of Urban Logistics shares is Friday.

abrdn Asia Focus current stock price: 316.83 pence, down 0.4% on Thursday morning in London

12-month change: up 13%

Urban Logistics REIT current stock price: 155.40 pence, down 1.4%

12-month change: up 27%

By Eric Cunha, Alliance News news editor

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