Morgan Stanley China A Share Fund, Inc. (NYSECAF) (the “Fund”) announced today that, in accordance with the Fund’s tender offer for up to 4,342,176 of its issued and outstanding shares of common stock, which expired at 11:59 p.m. New York time on February 20, 2024, the Fund has accepted 4,342,176 shares for payment on February 21, 2024 at $14.5386 per share, which is equal to 98.5 percent of the Fund’s net asset value per share as of the close of regular trading on the New York Stock Exchange on February 21, 2024. The 4,342,176 shares represent 20 percent of the Fund’s outstanding shares. A total of 18,010,696 shares were properly tendered and not withdrawn by February 20, 2024, the final date for withdrawals. Therefore, on a pro rata basis, approximately 24.1 percent of the shares so tendered by each tendering stockholder have been accepted for payment.
Morgan Stanley China A Share Fund, Inc. (NYSECAF) (the “Fund”) announced today that the Fund’s tender offer for 4,342,176 of its issued and outstanding shares of common stock, representing approximately 20 percent of the Fund’s outstanding shares, expired at 11:59 p.m., New York time on February 20, 2024.
Morgan Stanley China A Share Fund, Inc. (NYSECAF) (the “Fund”) announced today that its Board of Directors has approved a tender offer to acquire in exchange for cash up to 20 percent of the Fund’s outstanding shares at a price equal to 98.5 percent of the Fund’s net asset value per share (“NAV”) (net of expenses related to the tender offer) 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 (a “Tender Offer”). The Tender Offer will commence on January 22, 2024 and will terminate on February 20, 2024, unless extended. If the Fund’s shares are trading at a premium to NAV on January 22, 2024, no Tender Offer will be conducted. Additional terms and conditions of the Tender Offer will be set forth in its offering materials, which will be distributed to the Fund’s stockholders.
Morgan Stanley Investment Management announced today that, effective July 1, 2023, the annual advisory fee of Morgan Stanley China A Share Fund, Inc. (NYSECAF) (the “Fund”) will be reduced from 1.50% to 1.25% of the Fund’s average weekly net assets.
Morgan Stanley China A Share Fund, Inc. (NYSECAF) (the “Fund”) announced today that its Board of Directors has approved a performance-related conditional tender offer to acquire in exchange for cash up to 25 percent of the Fund’s then issued and outstanding shares at a price equal to 98.5 percent of the Fund’s net asset value per share (“NAV”) (minus the costs and expenses related to the tender offer) as of the close of regular trading on the New York Stock Exchange (“NYSE”) on the business day the offer expires (a “Tender Offer”). The Fund will conduct such a Tender Offer only if both (1) the Fund’s total return investment performance measured on a NAV basis does not equal or exceed the total return investment performance of the Fund’s benchmark index, the MSCI China A Onshore Index, during the three-year period commencing on July 1, 2022 and ending on June 30, 2025 (and for the term of successive five-year periods thereafter commencing July 1, 2025), and (2) the Fund’s shares are trading at or below NAV at the conclusion of the applicable measurement period, with such Tender Offer occurring on or before September 30, 2025, and thereafter on each five-year anniversary of September 30, 2025. If the Fund’s performance described above equals or exceeds that of the MSCI China A Onshore Index during any such period or if the Fund’s shares are trading at a premium to NAV at the conclusion of the applicable measurement period, no Tender Offer will be conducted for that period.
During Wednesday's session, 35 companies made new 52-week lows.
52-Week High And Low Highlights:
The company with the largest market cap to set a new 52-week low was...
Morgan Stanley Investment Management announced today a portfolio management change for Morgan Stanley China A Share Fund, Inc. (NYSECAF) (the “Fund”). The Fund is managed by the Emerging Markets Equity team of Morgan Stanley Investment Management Inc. (the “Adviser”). The team consists of portfolio managers and analysts.
On Friday, 106 companies reached new 52-week lows.
Things to Consider About Today's 52-Week Lows:
Air Products & Chemicals (NYSEAPD) is the largest company...
On Monday, 71 stocks hit new 52-week lows.
Noteable 52-Week Lows:
3M (NYSEMMM) was the biggest company in terms of market cap to set a new 52-week low.
OceanPal (...
