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Article: The Korea Fund, Inc. Announces Final Results of Tender Offer and Releases the Current Composition of Its Portfolio.
- Article from:
- Business Wire
- Article date:
- August 25, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- The Korea Fund, Inc. (NYSE: KF) announced today that, in accordance with its tender offer for up to 22,350,747 of its issued and outstanding shares of common stock, which expired on August 19, 2005, the Fund has accepted, after adjusting for fractional shares in accordance with the terms of the offer, 14,737,788 shares in exchange for a pro rata portion of the Fund's portfolio securities at a price equal to 98% of the net asset value per share determined as of the close of the New York Stock Exchange on August 22, 2005. These shares represent approximately 33% of the Fund's outstanding shares.
The Fund released today the expected composition of the ...
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