QuotedData’s morning briefing 22 March 2024 – BRGE

In QuotedData’s morning briefing 22 March 2024:

  • BlackRock Greater Europe (BRGE) is not going implement its semi-annual tender offer in May 2024. Over the six months to 29 February 2024, the average discount to net asset value (cum income) (NAV) was 6.3%. However, as the discount to NAV on a cum income basis (diluted for treasury shares) as at close of business on 20 March 2024 was 5.3% and the company was trading at the narrowest discount within its peer group, BRGE’s board has concluded that it is not in the interests of shareholders as a whole to proceed with this tender. However, BRGE’s board will continue to monitor the trust’s discount to NAV and will look to buy back shares and/or operate six monthly tender offers if it is deemed to be in the interests of shareholders as a whole.

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