Trust says the buyback is aimed at reducing the discount of its share price to net asset value per share. This gap currently is wider than at any time other than the financial crisis of 2008 and the pandemic of 2020, it notes, and materially wider than the 10-year average of 22%.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
The company has the power to buy back up to 8.1 million shares, worth about GBP38.6 million at the current share price, and the board will ask for this to be renewed at the next annual general meeting.
abrdn Private Equity Opportunities says it will continue paying a quarterly dividend as well, which it aims to maintain in line with inflation.
Current stock price: 477.02 pence, up 1.3% in London on Thursday.
Source: London South East
Can’t stop reading? Read more
Blackstone taps bond market as private credit BDCs end issuance drought
Blackstone taps bond market as private credit BDCs end issuance drought Blackstone's private...
EQT raises the stakes with revised $12.3bn bid for Intertek
EQT raises the stakes with revised $12.3bn bid for Intertek EQT has tabled an improved takeover...
Temasek’s Azalea bets on evergreen structure to democratise private equity access
Temasek's Azalea bets on evergreen structure to democratise private equity access Azalea, a unit...