Morgan Stanley India Investment Fund, Inc. announces an Equity Buyback for 15% of its issued share capital.
June 11, 2020 at 05:00 am
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Morgan Stanley India Investment Fund, Inc. (NYSE:IIF) announces a share repurchase program. Under the offer, the company will repurchase up to 15% of its issued share capital at a price price equal to 98.5% of the Fund's net asset value per. If more than 15 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 98.5 percent of the fund’s net asset value per share. The program will commence on June 12, 2020 and expire on July 17, 2020.
Morgan Stanley India Investment Fund, Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund's investment objective is long-term capital appreciation. Under normal market conditions, substantially all, but not less than 80%, of the Fund's total assets will be invested in equity securities of Indian issuers. The Fund invests its assets over a broad spectrum of the Indian economy, including, as conditions warrant from time to time, trade, financial and business services, transport and communications, manufacturing, food processing and construction. The Fund does not invest more than 25% of its total assets in any one industry. To the extent that the Fund's assets are not invested in equity securities of Indian issuers, the remainder of its assets may be invested in debt securities of Indian issuers, and debt securities issued or guaranteed by the Indian Government or an Indian governmental. The Fund's adviser is Morgan Stanley Investment Management Inc.
MORGAN STANLEY INDIA INVESTMENT FUND, INC. 
