Templeton Global Income Fund Announces Commencement Of Tender Offer For Its Common Shares; The Fund Will Purchase For Cash Up To 45% Of Its Outstanding Common Shares
Portfolio Pulse from Benzinga Newsdesk
Templeton Global Income Fund (NYSE:GIM) has announced a tender offer for up to 45% of its outstanding common shares at a price equal to 99% of the Fund's NAV per share. The offer will expire on November 9, 2023. The Board of Trustees approved the offer to provide enhanced liquidity to shareholders ahead of a potential investment adviser transition from Franklin Advisers to Saba Capital Management.
October 10, 2023 | 8:15 pm
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Templeton Global Income Fund's tender offer for its shares could enhance liquidity and potentially increase the Fund's NAV per share. This could narrow the NAV discount at which the Fund's shares trade.
The tender offer could attract investors looking for liquidity and potentially increase the Fund's NAV per share. This could narrow the NAV discount at which the Fund's shares trade, potentially leading to a positive impact on the stock price.
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