13th Feb 2025 16:27
(Alliance News) - Invesco Asia Trust PLC on Thursday said it has received shareholder approval for its merger with Asia Dragon Trust PLC.
Invesco Asia is an Oxfordshire, England-based and Asia-focused investor, which prioritises long-term capital growth. Asia Dragon is a FTSE 250-listed British investment firm dedicated to investments in Asian companies.
Invesco Asia will acquire around GBP544 million of assets from Asia Dragon, and will issue 142.6 million new shares to Asia Dragon shareholders.
The tie-up will create a new vehicle, Invesco Asia Dragon Trust, which is expected to be eligible for the FTSE 250 index and possess improved secondary market liquidity. The deal followed a strategic review announced by Asia Dragon in May as it sought to improve its share price discount.
Shares in Invesco Asia were up 1.2% at 348.00 pence each in London on Thursday afternoon. Asia Dragon shares have been suspended from the Main Market in London since Thursday last week.
The combination will see Asia Dragon wound up and specific assets aligned with Invesco Asia's investment policy of identifying undervalued Australasian and Asian companies transferred over.
By Emily Parsons, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.