Morgan Stanley China A Share Fund, Inc. announces an Equity Buyback for 20% of the Fund?s issued capital.
December 07, 2023 at 12:00 am EST
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Morgan Stanley China A Share Fund, Inc. announces a share repurchase program. Under the program, the company will repurchase up to 20% of the Fund?s issued and outstanding shares. The shares will be repurchased at a price equal to 98.5% of their net asset value as of the close of regular trading on the New York Stock Exchange (?NYSE?) on the business day immediately following the day the offer expires.
The purpose of the offer is to enhance shareholders value by providing the ability to repurchase shares at a discount to NAV. The offer will commence on January 22, 2024 and will terminate on February 20, 2024. In the event that a Tender Offer is triggered and more than 20% of the fund?s then issued and outstanding shares are tendered, the fund will purchase its shares from tendering shareholders on a pro rata basis.
Morgan Stanley China A Share Fund, Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund's investment objective is to seek capital growth. The Fund's investment objective is to seek capital growth by investing, under normal circumstances, at least 80% of its assets in A-shares of Chinese companies listed on the Shanghai and Shenzhen Stock Exchanges. The Fund may invests up to 20% of its assets in other types of investments, including B-shares of companies listed on the Shanghai and Shenzhen Stock Exchanges, H-shares of companies incorporated in mainland China and listed on the Hong Kong Stock Exchange, shares of Red Chip companies with controlling Chinese shareholders that are incorporated outside mainland China and listed on the Hong Kong Stock Exchange, shares of China-related companies listed on the Hong Kong Stock Exchange, the Singapore Stock Exchange and other exchanges. The Fund's investment adviser is Morgan Stanley Investment Management Inc.
MORGAN STANLEY CHINA A SHARE FUND, INC. 
