Aberdeen India Fund announces rights offering with 1-for-3 subscription ratio
The fund's board approved a transferable rights offering that gives common stockholders one right per share held on the anticipated April 18, 2024 record date. Holders can buy one new share for every three rights, with the subscription period expected to end May 14, 2024, unless extended. The offer aims to increase assets available for investment, and stockholders bear the offering's expenses indirectly.
- Anticipated record date is April 18, 2024, with one right issued per common share held
- Each three rights entitle the holder to buy one new common share; fractional shares will not be issued
- Subscription price is 92.5% of the five-day average NYSE price, with a floor of 93% of net asset value per share
- Subscription period is expected to expire May 14, 2024, unless extended; rights are expected to trade on the NYSE as IFN RT