By Michael Susin
European Opportunities Trust said it will launch a tender offer for up to 25% of its issued share capital as it seeks to reduce the discount volatility of its share price.
The company said on Monday that shares will be priced at the net asset value at the time of repurchase less two percent.
The offer, which is subject to shareholder approval, is expected to star no later than Jan. 31.
The company said that the offer aims to reduce discount volatility and to keep the discount price in single digits in normal market conditions.
“Buying shares at a discount also results in an enhancement to the net asset value per share,” it added.
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