Business News • MarketWire • The Greater China Fund, Inc. (NYSE: GCH) Announces Tender Offer Program and Stock Repurchase Program |
The Greater China Fund, Inc. (NYSE: GCH) Announces Tender Offer Program and Stock Repurchase Program |
|
|
The Greater China Fund, Inc. (NYSE: GCH) Announces Tender Offer Program and Stock Repurchase Program
NEW YORK, NY--(Marketwire - May 25, 2011) - The Greater China Fund, Inc. (NYSE: GCH) (the "Fund") announced today that the Fund's Board of Directors approved up to two consecutive tender offers each for up to 5% of the Fund's outstanding shares at a price per share equal to 98% of the Fund's net asset value per share ("NAV") as determined by the Fund on the next business day following the expiration date of the tender offer, or such later date to which the offer is extended. The Fund will conduct a tender offer if the average discount to NAV of the per share trading price of the Fund's shares on the NYSE is greater than 10% during the applicable twelve-week measurement period. The first measurement period will commence on July 1, 2011 and end on September 16, 2011. The commencement of the second measurement period is expected to be January 6, 2012, subject to change depending on whether a tender offer is to be commenced following the completion of the first measurement period.
View More : http://www.marketwire.com/mw/release.do?id=1519107&sourceType=3
|
|
|