26th Jul 2019 15:23
(Alliance News) - JZ Capital Partners Ltd on Friday said is planning to return up to USD30 million to shareholders through a tender offer.
The investor will pay USD9.39 per share for the USD30 million shares, around 95% of net asset value, as part of a move to return around USD100 million to shareholders at a minimum 5% discount to NAV.
JZ Capital is also proposing to dispose of interests in Jordan Health Products LLC, MERS Holdings LLC, and Tech Industries LLP to related party Edgewater Growth Capital Partners.
The company is seeking shareholder approval for its proposals, and for the amendment of its article of incorporation so that it can still be considered a foreign private issuer under US securities law.
Shares in JZ Capital were 1.0% higher at 486.00 pence on Friday afternoon.
Related Shares:
Jz Capital