The Korea Fund, Inc. (NYSE:KF) announces an Equity Buyback for 604,144 shares, representing 12.5% of its issued share capital.
July 10, 2024 at 09:30 am IST
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The Korea Fund, Inc. (NYSE:KF) announces a share repurchase program. Under the program, the company will repurchase up to 604,144 shares, representing 12.5% of its issued and outstanding common stock. The shares will be repurchased at a price per share equal to 98.5% of the NAV per share determined on the date the tender offer expires.
As of July 10, 2024, the Fund had 4,833,153 shares of common stock outstanding .
The Korea Fund, Inc. (the Fund) is a closed-end, non-diversified management investment company. The Fund's investment objective is to seek long-term capital appreciation through investment in securities, primarily equity securities, of Korean companies. The Fund Primarily invests in equity securities listed on the Korea Stock Exchange. The Fund directly invests in foreign currencies or in securities that trade in, and receive revenues in, foreign currencies, or in derivatives that provide exposure to foreign currencies. It invests in various sectors, including automobile components, biotechnology, chemicals, construction & engineering, consumer staples distribution & retail, electronic equipment, instruments & components, entertainment, food products, industrial conglomerates, interactive media & services, marine transportation, oil, gas & consumable fuels, semiconductors & semiconductors equipment, and others. Its investment adviser is JPMorgan Asset Management (Asia Pacific) Limited.
THE KOREA FUND, INC. 
