Morgan Stanley Asia-Pacific Fund, Inc. Announces Results of Measurement Period Under Discount Management Program
05 Oktober 2012 - 10:30PM
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 September 28, 2012, shares of the Fund traded at an
average daily discount to NAV of 11.12 percent. The Fund will
therefore conduct a tender offer in accordance with the terms of
the Program.
The Fund’s tender offer will commence on or about October 19,
2012. 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 600 investment professionals
around the world and $311 billion in assets under management or
supervision as of June 30, 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 1,200
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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