The Greater China Fund, Inc. Announces Results of Its Rights Offering
2010年4月19日 - 9:30PM
Marketwired
The Greater China Fund, Inc. (the "Fund") (NYSE: GCH) announced
today the results of its rights offering (the "Offer"). The Offer
entitled the rights holders to subscribe for an aggregate of
7,603,555 common shares of the Fund. The Offer, which commenced on
March 23, 2010 and expired on April 16, 2010, was over-subscribed.
The subscription price was $11.04 per share and was determined
based upon a formula equal to the greater of 90% of the average of
the last reported price of a share of common stock on the NYSE on
the expiration date and each of the four preceding trading days.
Shares will be issued promptly after receipt of all shareholder
payments and the pro-rata allocation of shares with respect to the
over-subscription privilege.
Gross proceeds of the Offer are expected to be approximately $84
million. The Fund intends to invest the additional capital raised
from the Offer to take advantage of available existing and future
investment opportunities consistent with its investment objective
of long-term capital appreciation through investment primarily in
listed equity securities of China companies.
The Fund is a non-diversified, closed-end management investment
company that seeks long-term capital appreciation through investing
primarily in listed securities of China companies, which are
companies that (i) are organized under the laws of, and have their
principal place of business in, China or Hong Kong or (ii) during
their most recent fiscal year derived at least 50% of their
revenues or profits from goods produced or sold, investments made
or services performed in China or Hong Kong or have at least 50% of
their assets in China or Hong Kong. The Fund's investment adviser
is Baring Asset Management (Asia) Limited.
Before investing in the Fund, investors should carefully
consider the investment objectives, risks, and charges and expenses
of the Fund. The information, including other information
concerning the Fund, can be found on file with the Securities and
Exchange Commission. An investor should carefully read the
prospectus before investing.
This announcement shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
CONTACT: WARREN ANTLER (212) 400-2605 Email Contact
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