Morgan Stanley Asia Pacific Fund Inc Odd Lot Tender Offer

Posted on May 24, 2013 by admin
  • Company: Morgan Stanley Asia Pacific Fund Inc
  • Ticker: NYSE:APF
  • Market Cap: 403M
  • Size of Action: 5% of outstanding shares
  • Type of Transaction: Odd Lot Tender Offer
  • Current Price: $16.10 (June 4th)
  • Tender Price: $17.90 (not official - will be 98% of NAV on June 11th)
  • Potential Gain (%): 11.21%
  • Expiration: June 10th
  • Tender Limit (Shares): 99
  • Max Investment ($): $1,593.90
  • Max Gain ($): $178
  • Sec Filing: http://www.sec.gov/Archives/edgar/data/919808/000110465913040826/a13-10793_1ex99da1i.htm
  • http://www.sec.gov/Archives/edgar/data/919808/000110465913040826/a13-10793_1ex99da5.htm
  • Summary: Morgan Stanley Asia-Pacific Fund, Inc. APF +0.06% (the "Fund") announced today the commencement of a tender offer by the Fund to acquire in exchange for cash up to 5 percent of the Fund's outstanding shares at a price equal to 98 percent of the Fund's net asset value per share as of the close of regular trading on the New York Stock Exchange on the business day immediately following the day the offer expires (the "Tender Offer"). 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 net asset value per share.
  • Source of Funds: The monies to be used by the Fund to purchase Shares pursuant to the Offer will be obtained from cash and from sales of securities in the Fund's investment portfolio. Although permitted to do so, the Fund does not expect to borrow money to finance the purchase of any tendered Shares.
  • Odd Lots:  As described in Section 1 of the Offer, the Fund will purchase Shares validly tendered and not properly withdrawn prior to the Termination Date by any Stockholder who owns beneficially or of record an aggregate of not more than 99 Shares (an "Odd Lot Holder"). This preference will not be available unless the item captioned "Odd Lots" is completed.
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