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LONDON (Alliance News) - VietNam Holding Ltd on Wednesday said it will distribute USD1.50 per share that was tendered by shareholders in the company's recent tender offer.
The investment company said the distribution will take place on Thursday next week.
In October, VietNam Holding proposed to tender up to 15% of its issued share capital at a 2% discount of its net asset value per share. In the year ended June 30, the company's NAV per share stood at USD3.06.
At the end of October, VietNam Holding closed the tender offer, with 42.1 million shares tendered, representing 67% of its share capital. Not all of these requests were satisfied. The company said 9.7 million shares would be purchased at the tendered price. Following the tender offer, VietNam Holding had 54.4 million shares.
"The tender pool continues to be realised and once the cash proceeds from the realisation of the remaining investments have been received the company will make a final distribution," VietNam said in the statement.
An announcement regarding the final distribution is expected to occur by the end of December, the company noted.
VietNam shares were trading 0.8% lower on Wednesday at EUR2.38 each.