nice= NTA @ $1.17
HSBC China Dragon Fund announced that it was considering a number of measures designed to address the deep discount to net asset backing which the fund has been trading at for a number of years. These measures include a one-off tender offer for 20% of the fund’s outstanding shares at a significant premium to the current share price; along with a change in the mandate of the fund to allow it to undertake annual tender offers thereafter. Pleasingly we expect these initiatives to allow us to unlock a significant portion of the underlying value in this investment.
The position has been accumulated at an average discount to net asset value of wider than 25%.
will we get our first divvy from this?
very happy to wait,they seem to be doing well
GVF Price at posting:
$1.02 Sentiment: Buy Disclosure: Held
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(20min delay)