9th Nov 2016 09:23
LONDON (Alliance News) - Closed-end investment company Tetragon Financial Group Ltd said Wednesday it is launching a tender offer for outstanding non-voting shares in the company to a maximum aggregate cash payment of USD50 million.
Tetragon, which is dual listed in London and Amsterdam, said the offered shares will be purchased by its subsidiary Tetragon Financial Group Master Fund Ltd, in a "modified Dutch auction" with shareholders able to tender shares at prices from USD10.80 to USD12.00. The shares will then be purchased at the lowest price per share that enables the Master Fund to purchase USD50 million worth of shares. All shares will be purchased at the same price.
Tetragon said the tender offer will expire on December 8, with a purchase price expected to be announced on December 13 and the purchase to be settled shortly after.
Shares in Tetragon Financial were untraded at USD11.20 on the London Main Market on Wednesday.
By Adam Clark; [email protected]
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Tetragon Fin