13th Nov 2023 12:04
Fidelity Emerging Markets Ltd - investment fund targeting long-term capital growth through exposure to emerging market companies - Engages Jefferies International Ltd and JP Morgan Cazenove as buyback agents to repurchase participating preference shares in London on its behalf, starting immediately and running until its annual general meeting on December 7. The investment fund doesn't provide a target size for the share buyback, though in its annual report, issued last month, it noted that its shares had ended its financial year on June 30 with a 14.6% discount to net asset value and that it has the ability to buy back up to 14.99% of its participating preference shares each year in order to manage the discount.
Current stock price: 590.00 pence, down 0.5% in London on Monday
12-month change: down 6.0%
By Emma Curzon, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.