ABRDN JAPAN EQUITY FUND, INC. (JEQ) ANNOUNCES FINAL RESULTS OF CASH TENDER OFFER
abrdn Japan Equity Fund (NYSE: JEQ) has announced the completion of its cash tender offer for up to 7,072,985 shares, representing 50% of its outstanding shares. The tender offer, which expired on September 2, 2025, saw strong participation with approximately 11,116,238 shares (78.6%) properly tendered.
Due to oversubscription, the Fund implemented a proration ratio of approximately 0.6363. Accepted shares will be purchased at $8.04 per share, representing 98% of the Fund's NAV as of September 3, 2025. Payment is expected around September 12, 2025. Following the transaction, the Fund will have 7,072,985 shares outstanding.
abrdn Japan Equity Fund (NYSE: JEQ) ha comunicato di aver completato la sua offerta in contanti per l'acquisto di fino a 7.072.985 azioni, pari al 50% delle azioni in circolazione. L'offerta, scaduta il 2 settembre 2025, ha registrato una forte partecipazione con circa 11.116.238 azioni (78,6%) correttamente presentate.
Per effetto della sovrasottoscrizione, il fondo ha applicato un rapporto di riparto di circa 0,6363. Le azioni accettate saranno acquistate a $8,04 per azione, corrispondente al 98% del NAV del fondo al 3 settembre 2025. Il pagamento 猫 previsto intorno al 12 settembre 2025. Dopo l'operazione, il fondo avr脿 in circolazione 7.072.985 azioni.
abrdn Japan Equity Fund (NYSE: JEQ) ha anunciado la finalizaci贸n de su oferta p煤blica de compra en efectivo de hasta 7.072.985 acciones, que representan el 50% de sus acciones en circulaci贸n. La oferta, que venci贸 el 2 de septiembre de 2025, cont贸 con una amplia participaci贸n, con aproximadamente 11.116.238 acciones (78,6%) debidamente presentadas.
Debido a la sobresuscripci贸n, el Fondo aplic贸 una proporci贸n de prorrateo de aproximadamente 0,6363. Las acciones aceptadas se comprar谩n a $8,04 por acci贸n, lo que equivale al 98% del NAV del Fondo al 3 de septiembre de 2025. El pago est谩 previsto alrededor del 12 de septiembre de 2025. Tras la operaci贸n, el Fondo tendr谩 7.072.985 acciones en circulaci贸n.
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abrdn Japan Equity Fund (NYSE: JEQ) a annonc茅 l'ach猫vement de son offre de rachat en num茅raire portant sur jusqu'脿 7 072 985 actions, soit 50 % de ses actions en circulation. L'offre, qui a expir茅 le 2 septembre 2025, a suscit茅 une forte participation avec environ 11 116 238 actions (78,6 %) d没ment propos茅es.
En raison de la sursouscription, le Fonds a appliqu茅 un ratio de prorata d'environ 0,6363. Les actions accept茅es seront rachet茅es 脿 8,04 $ par action, ce qui repr茅sente 98 % de la VNI du Fonds au 3 septembre 2025. Le paiement est pr茅vu aux alentours du 12 septembre 2025. Apr猫s l'op茅ration, le Fonds comptera 7 072 985 actions en circulation.
abrdn Japan Equity Fund (NYSE: JEQ) hat den Abschluss seines Barkaufangebots f眉r bis zu 7.072.985 Aktien bekanntgegeben, was 50% der ausstehenden Aktien entspricht. Das Angebot, das am 2. September 2025 ablief, verzeichnete eine starke Teilnahme mit rund 11.116.238 Aktien (78,6%), die ordnungsgem盲脽 eingereicht wurden.
Aufgrund der 脺berzeichnung wendete der Fonds ein Quotierungsverh盲ltnis von etwa 0,6363 an. Akzeptierte Aktien werden zu $8,04 pro Aktie erworben, was 98% des NAV des Fonds zum 3. September 2025 entspricht. Die Auszahlung ist f眉r etwa den 12. September 2025 vorgesehen. Nach der Transaktion wird der Fonds 7.072.985 Aktien ausstehen haben.
- Strong shareholder participation with 78.6% of outstanding shares tendered
- Purchase price set at 98% of NAV, providing liquidity near fair value
- Significant tender size offering liquidity for 50% of outstanding shares
- Proration required due to oversubscription, limiting shareholders' ability to fully exit
- Reduction in fund size may impact trading liquidity for remaining shares
Insights
JEQ's 50% tender offer was oversubscribed with 78.6% participation, resulting in 63.6% proration at $8.04 per share (98% of NAV).
The abrdn Japan Equity Fund's (JEQ) tender offer represents a significant capital action that materially affects shareholders. The fund purchased exactly 50% of its outstanding shares (7,072,985 shares) at
This tender structure is noteworthy for three primary reasons. First, the pricing at a slight discount to NAV (
For shareholders who participated, this tender provided partial liquidity at a price better than recent market prices. For continuing shareholders, the tender could potentially help address discount issues, though this depends on post-tender market conditions. The process appears to have been executed according to standard tender procedures with payment expected by September 12th.
Based on information provided by Computershare Trust Company N.A., the depositary of the tender offer, approximately 11,116,238 shares of common stock or
Important Information
The Fund's daily NYSE closing price and NAV, as well as other information, including updated portfolio statistics and performance are available at or by calling the Fund's Investor Services at 1-800-522-5465.
abrdn Inc. has prepared this report based on information sources believed to be accurate and reliable. However, neither the Fund,听abrdn Asia Limited (the Investment Manager), nor any other person guarantees their accuracy. Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information.
In
Closed-end funds are traded on the secondary market through one of the stock exchanges. A Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the听NAV of the fund's portfolio. There is no assurance that a Fund will achieve its investment objective. Past performance does not guarantee future results.
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SOURCE abrdn Japan Equity Fund, Inc.
FAQ
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