Tekla Healthcare Investors Buyback
OLI recorded this information on 3/22/2018
Company: |
Tekla Healthcare Investors |
Buyback: |
HQH buyback |
Share Amount Authorized: |
12% of Outstanding Common Stock |
Buyback Details: |
Tekla Healthcare Investors (the "Fund") announced today that its Board of Trustees authorized a renewal of its share repurchase program. The current share repurchase program allows the Fund to purchase in the open market up to 12% of its outstanding common shares for a one-year period ending July 14, 2018. The renewal will allow the Fund to purchase in the open market up to 12% of its outstanding common shares for a one-year period ending July 14, 2019. The Board authorized the share repurchase program as a result of its periodic review of the options available to enhance shareholder value and potentially reduce the discount between the market price of the Fund's shares and the net asset value per share. The share repurchase program is intended to increase the Fund's net asset value per share and could also have the benefit of providing additional liquidity in the trading of shares. |
Tekla Healthcare Investors is a non-diversified closed-end management investment company. The Fund's investment objective is long-term capital appreciation by investing primarily in securities of healthcare companies. In addition, the Fund seeks to provide regular distribution of realized capital gains. The Fund focuses on restricted securities of both public and private companies.
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