PHILADELPHIA, PA / ACCESSWIRE / Might 15, 2024 / The India Fund, Inc. (NYSE:IFN) (the “Fund”), a closed-end fund, introduced immediately the profitable completion of its transferable rights (“Rights”) providing (the “Offer”). The Supply commenced on April 19, 2024, and expired on Might 14, 2024 (the “Expiration Date”).
The Supply entitled Rights holders to subscribe for shares of the Fund’s widespread inventory of helpful curiosity, par worth $0.001 per share (“Common Stock”). The ultimate subscription worth was $17.75 per share of Frequent Inventory and was decided based mostly upon 93% of the Fund’s web asset worth (“NAV”) per share of Frequent Inventory on the shut of buying and selling on the New York Inventory Alternate (“NYSE”) on the Expiration Date, which was larger than the system of 92.5% of the common of the final reported gross sales worth of a share of Frequent Inventory on the NYSE on the Expiration Date and every of the 4 (4) instantly previous buying and selling days. The Rights exercised within the Supply (together with pursuant to over-subscription requests and notices of assured supply) will end result within the issuance and sale of 6,237,159 shares of Frequent Inventory, and gross proceeds of the Supply are anticipated to be roughly $110 million.
The shares of Frequent Inventory subscribed for can be issued after completion of the allocation of the over-subscription shares of Frequent Inventory and receipt of all shareholder funds. The shares of Frequent Inventory are anticipated to be issued on or about Might 21, 2024.
This press launch shall not represent a suggestion to promote or represent a solicitation of a suggestion to purchase. Buyers ought to learn the prospectus complement and accompanying prospectus, when obtainable, and contemplate the funding goal, dangers, charges, and bills of the Fund rigorously earlier than investing. This press launch isn’t a suggestion to promote these securities and isn’t soliciting provides to purchase these securities in any jurisdiction the place the provide or sale isn’t permitted.
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The Fund is managed and suggested by abrdn Asia Restricted. The Frequent Inventory trades on the NYSE beneath the image “IFN”.
In the US, abrdn is the advertising and marketing title for the next affiliated, registered funding advisers: abrdn Inc., abrdn Investments Restricted, abrdn Asia Restricted, abrdn Non-public Fairness (Europe) Restricted, and abrdn ETFs Advisors LLC.
Closed-end funds are traded on the secondary market by means of one of many inventory exchanges. The Fund’s funding return and principal worth will fluctuate in order that an investor’s shares of Frequent Inventory could also be price kind of than the unique value. Shares of closed-end funds could commerce above (a premium) or under (a reduction) the NAV of the fund’s portfolio. There isn’t any assurance that the Fund will obtain its funding goal. Previous efficiency doesn’t assure future outcomes.
In the event you want to obtain this info electronically, please contact Investor.Relations@abrdn.com
abrdnifn.com
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For Extra Data Contact:
abrdn U.S. Closed-Finish Funds
Investor Relations
1-800-522-5465
Investor.Relations@abrdn.com
SOURCE: The India Fund, Inc.
