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.
posted by Money Turtle @ 3:09 PM
3 comments
3 Comments:
ALTH is another good one-expiring 6 August
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.
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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