Morgan Stanley China A Share Fund, Inc. Announces Proposed Record Date For Its Transferable Rights Offering
Morgan Stanley China A Share Fund, Inc. (the “Fund”) (NYSE: CAF), a closed-end management investment company, announced the proposed record date for an anticipated transferable rights offering of its shares of common stock (the “Offering”). Subject to the registration statement for the Offering becoming effective under the Securities Act of 1933, as amended, the Fund will issue to stockholders of record (“Record Date Stockholders”) as of August 18, 2010 (the “Record Date”) one transferable right (the “Rights”) for each whole share of common stock held. Three Rights will entitle the holder to purchase one share of common stock at the subscription price. The Rights are transferable and are expected to be admitted to trading on the New York Stock Exchange (“NYSE”) under the ticker symbol “CAF RT.”
The Offering will only be made by means of a prospectus to be distributed to Record Date Stockholders on or about August 23, 2010. The subscription price has not yet been determined by the Fund. The subscription price will be determined on the expiration date of the Offering (the “Expiration Date”) based on a formula equal to 90 percent of the average of the last reported sales price per share of the Fund’s common stock on the NYSE on the Expiration Date and the four preceding trading days (the “Formula Price”); provided, however, that in no event shall the subscription price be less than 90 percent of the net asset value per share of the Fund’s common stock at the close of trading on the NYSE on the Expiration Date. If the Formula Price is less than 90 percent of the net asset value per share of the Fund’s common stock at the close of trading on the Expiration Date, the subscription price will be 90 percent of the net asset value per share on that day.
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