19th Oct 2018 12:39
LONDON (Alliance News) - Aberdeen Frontier Markets Investment Co Ltd said on Friday that 51.0 million shares, around 60% of the trust's entire issued share capital, were tendered by shareholders under an oversubscribed offer.
As a result, 12.7 million shares have been repurchased by Aberdeen Frontier Markets, at the tender price of 52.75 pence per share, at a total cost of GBP6.7 million.
Following the purchase, Aberdeen Frontier Markets now has 73.2 million shares issued overall.
Shares in the trust were down 2.0% at 48.00 pence on Friday.