Mexico Equity & Income Fund Inc. announces an Equity Buyback for 367,170 of its outstanding shares, representing 5% of its issued and outstanding share capital.
January 19, 2018 at 12:00 am EST
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Mexico Equity & Income Fund Inc. announces a share repurchase program. Under the offer, the company will repurchase up to 367,170 of its outstanding shares, representing 5% of its issued and outstanding share capital. The shares will be repurchased at a purchase price equal to 95% of the net asset value per share as of the close of regular trading on the New York Stock Exchange. The offer will be funded from cash and cash equivalents. The shares repurchased shall constitute authorized but unissued shares. The offer will expire on February 23, 2018. As of January 16, 2018, the fund had 7,343,416 shares issued and outstanding.
US Bancorp Fund Services, LLC acted as Depository to the fund and Blank Rome LLP acted as legal advisor to the fund.
The Mexico Equity and Income Fund, Inc. (the Fund) is a closed-end, non-diversified management investment company. The Fundâs investment objective is to seek high total return through capital appreciation and current income. The Fund invests at least 80% of its assets in equity and convertible securities issued by Mexican companies and debt securities of Mexican issuers. It invests in equity securities, convertible securities and debt securities and may also invest in other securities, such as capital development certificates, real estate investment trusts, mutual funds, exchange traded funds, preferred stocks, rights, and warrants. It may, without limitation, hold cash or invest in assets in money market instruments, including United States and non-United States government securities, high grade commercial paper and certificates of deposit and bankerâs acceptances issued by Unites States and non-United States banks. Pichardo Asset Management, S.A. de C.V. is its investment advisor.
Mexico Equity & Income Fund Inc. announces an Equity Buyback for 367,170 of its outstanding shares, representing 5% of its issued and outstanding share capital.
MEXICO EQUITY & INCOME FUND INC. 
