Asia Dragon (DGN) trust has seen its total assets grow by £214.7m following its merger with abrdn New Dawn (ABD).
This puts DGN's total assets at £736.4m, as pre-merger it held £494.7m, according to data from the Association of Investment Companies. The merger of the two abrdn trusts was first proposed in July and today (8 November), shareholders in ABD formally approved the combination of assets. Asia Dragon shareholders greenlight abrdn New Dawn merger DGN announced that 52,895,670 new shares will be issued to ABD shareholders, in accordance with the scheme. Shares of the fully combined portfolio are expected to begin trading tomorrow (9 November) at 9am. abrdn New Dawn investors were off...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
