Business News • MarketWire • The Greater China Fund, Inc. (NYSE: GCH) Announces Final Results of Tender Offer |
The Greater China Fund, Inc. (NYSE: GCH) Announces Final Results of Tender Offer |
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The Greater China Fund, Inc. (NYSE: GCH) Announces Final Results of Tender Offer
NEW YORK, NY--(Marketwire - Oct 20, 2011) - The Greater China Fund, Inc. (NYSE: GCH) ( the "Fund") announced today that in accordance with the Fund's tender offer (the "Tender Offer") for up to 6,067,002 of its issued and outstanding shares of common stock, which expired October 14, 2011, the Fund has accepted 6,067,002 shares for payment at $11.30 per share, which is equal to 98% of the Fund's net asset value per share as of the close of regular trading on the New York Stock Exchange on October 17, 2011. The 6,067,002 shares represent approximately 20% of the Fund's issued and outstanding shares. A total of 7,865,202 shares, or approximately 25.9% of the Fund's issued and outstanding common stock, were properly tendered and not withdrawn prior to the expiration of the Tender Offer. Therefore, on a pro rated basis, approximately 77.14% of the shares properly tendered by each tendering stockholder have been accepted for payment.
View More : http://www.marketwire.com/mw/release.do?id=1575964&sourceType=3
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