The China Fund, Inc. Announces Changes To Its Discount Management Program; The Program Provides That The Fund May Repurchase Annually Up To 10% Of Its Common Shares Outstanding As Of The Close Of Business On October 31st Of The Prior Year
Portfolio Pulse from Benzinga Newsdesk
The China Fund, Inc. (NYSE:CHN) has announced changes to its Discount Management Program, which allows the fund to repurchase up to 10% of its common shares annually. The repurchases are made when shares are trading above a specified discount threshold. The program aims to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (NAV) per share. However, there is no guarantee that the program will be effective at reducing any discount in the open market price of Fund shares.

September 27, 2023 | 8:41 pm
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The China Fund's Discount Management Program changes could potentially enhance shareholder value by purchasing Fund shares trading at a discount from their NAV per share. However, the effectiveness of the program in reducing any discount in the open market price of Fund shares is uncertain.
The China Fund's Discount Management Program allows the fund to repurchase up to 10% of its common shares annually when they are trading above a specified discount threshold. This could potentially enhance shareholder value. However, there is no guarantee that the program will be effective at reducing any discount in the open market price of Fund shares, which introduces uncertainty.
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