In a stock exchange filing on Thursday (21 March), the board said it had decided not to go ahead with the May tender offer due to the trust’s narrowing discount.
It noted that, over the six months to 29 February, the trust’s average discount to net asset value stood at 6.3%, while it dropped to 5.3% as of 20 March – highlighting it was “the narrowest discount within its peer group”.
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As a result, the board argued a semi-annual tender offer would not be in the interests of shareholders.
BlackRock Greater Europe cu…
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