9th Jun 2020 11:43
(Alliance News) - Tetragon Financial Group Ltd said Tuesday it has bought back 2.9 million non-voting shares through a tender offer.
The asset manager has purchased 2.9 million shares at USD8.75 per share, for a total cost of USD25.0 million.
Shares in Tetragon Financial were 2.3% lower in London on Tuesday at 772.19 pence each.
A total of 4.9 million non-voting shares were properly tendered and not withdrawn at or below the purchase price of USD8.75 per share, Tetragon said.
The asset manager noted more than USD25.0 million in value of non-voting shares was properly tendered and not properly withdrawn, the tender offer was subject to proration.
The final proration factor for the tender offer is 58.6%.
JP Morgan Securities - which conducts its UK investment banking business as J.P. Morgan Cazenove - acted as dealer manager.
By Paul McGowan; paulmcgowan@alliancenews.com
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