abrdn proposes folding New Dawn into Asia Dragon trust

To become effective October 2023

James Baxter-Derrington
clock • 3 min read

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...

To continue reading this article...

Join Investment Week for free

  • 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

Join now


Already an Investment Week


More on Investment Trusts