The reverse auction tender offer from Pantheon International (PIN) has closed, with the trust buying back £150m of shares at a 34% discount to its net asset value.
In a stock exchange notice today (18 October), the trust said the tender offer saw 49,180,327 ordinary shares acquired by the company, with 9.3% of share capital exiting. The strike price for the tender offer was 305p per ordinary share, below the maximum tender price of 315p but above the trust's current share price of 302p, according to data from the Association of Investment Companies. Pantheon International launches £150m tender offer as part of £200m share buyback scheme The vast majority (48,145,173) of the ordinary shares were tendered below the strike price and accepted...
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