15th Aug 2018 14:18
LONDON (Alliance News) - Genesis Emerging Markets Fund Ltd said Wednesday that 76.1 million shares were tendered under a tender offer launched earlier this year.
The shares tendered equal 56% of the 135.0 million shares in issue, the company said.
The maximum number of shares in respect of which tenders will be satisfied, representing 10% of shares in issue as at July 17, is 13.5 million, Genesis said. The company added that it will buy 13.5 million shares under the tender offer.
The price at which tendered shares will be purchased will be equal to 97% of the net asset value per share of the company as at Thursday and will be announced on Friday.
Genesis shares were trading 3.1% lower at 680.00 pence each.
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GSS.L