Morgan Stanley Asia-Pacific Fund, Inc. Announces Results of Measurement Period under Discount Management Program
07 Mayo 2012 - 7:30AM
Business Wire
Morgan Stanley Asia-Pacific Fund, Inc. (NYSE: APF) (the “Fund”)
announced the results of its measurement period under its
previously announced discount management program (the “Program”).
Pursuant to the Program, the Fund’s Board of Directors approved up
to four consecutive semi-annual tender offers, each to purchase up
to 5 percent of the Fund’s outstanding shares of common stock for
cash at a price equal to 98 percent of its net asset value (“NAV”)
per share if the Fund’s shares trade at an average discount of at
least 10 percent over a 12-week period. For the 12-week measurement
period ended March 30, 2012, shares of the Fund traded at an
average daily discount to NAV of 10.44 percent. The Fund will
therefore conduct a tender offer commencing on May 17, 2012, in
accordance with the terms of the Program.
The timing of the Fund’s tender offer will be announced as soon
as practicable. Additional terms and conditions of the Fund’s
tender offer will be set forth in its offering materials, which
will be distributed to its stockholders. If more than 5 percent of
the Fund’s outstanding shares are tendered, the Fund will purchase
its shares from tendering stockholders on a pro rata basis at a
price of 98 percent of the Fund’s NAV per share.
Morgan Stanley Investment Management, together with its
investment advisory affiliates, has approximately 620 investment
professionals around the world and $304 billion in assets under
management or supervision as of March 31, 2012. MSIM strives to
provide outstanding long-term investment performance, service and a
comprehensive suite of investment management solutions to a diverse
client base, which includes governments, institutions, corporations
and individuals worldwide.
Morgan Stanley is a leading global financial services firm
providing a wide range of investment banking, securities,
investment management and wealth management services. The Firm’s
employees serve clients worldwide including corporations,
governments, institutions and individuals from more than 1,300
offices in 43 countries. For further information about Morgan
Stanley, please visit www.morganstanley.com.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
the securities in any state in which such offer, solicitation or
sale would be unlawful under the securities laws of any such
state.
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