The India Fund launches rights offering for up to 10,352,100 shares
The India Fund, Inc. (NYSE: IFN) commenced a transferable rights offering on April 18, 2024, under its effective shelf registration statement. Record date shareholders receive one right per common share held and need three rights to buy one new share, and the filing says the offering is for up to 10,352,100 shares. The offering dilutes existing holders unless they subscribe, and the rights expire May 14, 2024.
- Record date: close of business on April 18, 2024; holders receive one right per common share owned.
- Three rights are needed to buy one new common share; the offering covers up to 10,352,100 shares.
- Subscription price referenced in the filing is $8.50 per share; rights expire at 5:00 p.m. Eastern time on May 14, 2024, unless extended.
- Dealer manager is UBS Securities LLC; the Fund also entered subscription and information agent agreements with EQ Fund Solutions, LLC.