abrdn proposes folding New Dawn into Asia Dragon trust

To become effective October 2023

abrdn has proposed the merger of the abrdn New Dawn and Asia Dragon investment trusts, with the combined assets set to exceed £700m.

The proposals would see abrdn New Dawn rolled into Asia Dragon, with the former wound up and the transfer of assets on a formula asset value basis offered in exchange for the issue of new ordinary shares in the latter. An up to 25% cash exit opportunity will be offered to investors in abrdn New Dawn, with the price offered at a 2% discount to the trust's FAV, less the costs of realising the assets allocated to the cash pool. abrdn begins £150m share buyback programme Following the merger, which is expected to become effective in October 2023, with further details published in Septe...