3rd Jan 2019 11:31
LONDON (Alliance News) - Marwyn Value Investors LP on Thursday said it is making a partial offer on its shares through a GBP5 million reverse bookbuild in order to narrow its share price discount.
Marwyn will acquire the shares for cash at a price amounting to a GBP5 million value. Liberum Capital Ltd will act as broker.
As at December 28, Marwyn's estimated net asset value per share was GBP1.922.
Shares in Marwyn were up 2.8% at 121.80 pence on Thursday, a 37% discount to the net asset value estimate. The aim of the buyback is to close this discount.
The closing date for the offer is January 15 and at the end of the offer period, Marwyn will select the lowest clearing price submitted to allow its to buy the shares for GBP5 million. All accepted shares will be purchased.
Related Shares:
Marwyn Val.