Monday, July 16, 2012

The China Fund, Inc. Tender Offer

It’s still fairly quiet on my end… I picked up some odd lot shares in a closed end fund, The China Fund, Inc. (Ticker: CHN), today at around $21.95 and tendered the shares. There is a tender offer in which the fund is purchasing shares at 99% of its NAV with odd lot taking priority. As of July 13th, the NAV was $23.75 so you’re looking at ~ 6.5% return.


At July 24, 2012, Anonymous Anonymous said...

ALTH is another good one-expiring 6 August

At July 24, 2012, Blogger Money Turtle said...

I've been looking into that one. The one thing that concerns me is that people are withdrawing their tendered shares. Why? Definitely a decent spread with additional upside with the CVR.

At July 25, 2012, Anonymous Anonymous said...

Totally agree.I am holding off on ALTH too. Shares tendersd have declined from 80+/% to 60% now.
They need +90% to go ahead without shareholder vote.I'll go in once shareholder vote date is announced.


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