JPMorgan Indian Investment Trust PLC - investor in Indian companies - Plans a tender offer for up to 25% of the company's outstanding share capital at net asset value, less costs. Adds that the tender offer is performance-related and will go ahead if its NAV total return in sterling on a cum-income basis does not exceed the total return of the MSCI India Index in sterling terms plus 0.5% per year over a five-year period on a cumulative basis from October 1, 2020. Adds that if the tender offer is triggered, it will be dependent on shareholder approval at the relevant time.
As at January 31, its NAV stood at 1,002.32 pence per share, up from 689.24p as at September 30.
Current stock price: 824.00 pence
12-month change: up 2.7%
By Abby Amoakuh, Alliance News reporter
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JPMorgan Indian (JII)