Thai Fund (NYSE:TTF)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Thai Fund Charts. Click Here for more Thai Fund Charts.](/p.php?pid=staticchart&s=NY%5ETTF&p=8&t=15)
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