6th Nov 2023 09:51
(Alliance News) - European Opportunities Trust PLC on Monday announced that it will undertake a tender offer to buy back shares.
The company focused on "high conviction" investment in "differentiated" European companies said it will buy back up to 25% of the issued share capital of the company.
The price will be at the prevailing net asset value at the time of repurchase, adjusted for costs associated with the tender offer, minus 2%. The offer runs until January 31.
European Opportunities Trust said it aims to reduce discount volatility, aiming for a discount in single digits in normal market conditions. Buying back shares can raise the share price.
European Opportunities Trust shares were 0.5% higher at 794.54 pence each on Monday morning in London.
By Tom Budszus, Alliance News reporter
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