The Thai Fund, Inc. Announces the Commencement of Its Rights Offering
May 30 2006 - 3:15PM
Business Wire
The Thai Fund, Inc. (the "Fund") (NYSE: TTF) announced today that
the Subscription Period for its Rights Offering to holders of the
Fund's common stock has commenced. The Fund is issuing to its
stockholders non-transferable Rights entitling the holders to
subscribe for an aggregate of approximately 3,320,650 shares of the
Fund's common stock. Each stockholder is to be issued one Right for
each share of the Fund's common stock owned on the record date, May
23, 2006. The Rights entitle the stockholders to acquire one share
for each four Rights held. The Subscription Period commences today,
May 30, 2006, and will expire at 5:00 p.m., New York time, on June
19, 2006, unless extended (the "Expiration Date"). The actual
subscription price per share will be determined on the Expiration
Date and will be 95% of the average of the last reported sales
price per share of the Fund's common stock on the New York Stock
Exchange on the Expiration Date of the Rights Offering and the four
preceding trading days, with a requirement that the price be no
lower than the net asset value per share of the Fund's common stock
at the close of trading on the New York Stock Exchange on the
Expiration Date. Stockholders who fully exercise all Rights issued
to them will be entitled to subscribe for additional shares at the
subscription price pursuant to an over-subscription privilege. If
all available shares are then subscribed for, the Fund may issue
additional shares of an amount up to 25% of the shares available
pursuant to the Rights Offering. If all Rights are exercised
(including the additional 25%), the Fund will issue approximately
4,150,810 shares of its common stock in the Rights Offering. The
Fund is listed on the New York Stock Exchange under the ticker
symbol "TTF." The Fund is a closed-end management investment
company seeking long-term capital appreciation through investment
primarily in equity securities of companies organized under the
laws of the Kingdom of Thailand. Persons seeking further
information regarding the Fund's Rights Offering, or interested in
obtaining a prospectus, should contact their broker or nominee, or
contact the Fund's Information Agent: -0- *T GEORGESON SHAREHOLDER
COMMUNICATIONS, INC. 17 State Street, 10th Floor New York, NY 10004
Toll free: (800) 509-4953 or For banks and brokers: (212) 440-9800
*T The Fund's U.S. investment adviser is Morgan Stanley Investment
Management Inc. ("MSIM"), a wholly-owned subsidiary of Morgan
Stanley. MSIM, with over 400 investment professionals around the
world, has more than $445 billion in assets under management or
supervision as of March 31, 2006. MSIM offers investment management
services to a diverse client base, which includes governments,
institutions, corporations and individuals. Morgan Stanley
(NYSE:MS) is a global financial services firm and a market leader
in securities, investment management and credit services. With more
than 600 offices in 30 countries, Morgan Stanley connects people,
ideas and capital to help clients achieve their financial
aspirations. Investors should consider the Fund's investment
objective, risks and charges and expenses carefully before
investing. The prospectus contains this and other information about
the Fund and can be obtained from Georgeson Shareholder
Communications, Inc., as set forth above. Investors should read the
prospectus carefully before investing. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any state in which
such offer, solicitation or sale would be unlawful under the
securities laws of any such state. -0- *T For media inquiries,
please contact: Andrea Slattery Media Relations 212-762-3487 *T
Thai Fund (NYSE:TTF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Thai Fund (NYSE:TTF)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Thai Fund (The) (delisted) (New York Stock Exchange): 0 recent articles
More The Thai Fund, Inc. News Articles