Gottex Fund Management, an alternative investment company, has proposed to buy back shares to offset the dilution effect from an acquisition in Asia.
The Swiss hedge fund manager, which has $7.6 billion (€6.2 billion) of assets, announced the purchase of Hong Kong-based Penjing Asset Management in May.
The maximum number of company shares authorised to be acquired is 1.75 million, which is the maximum number of shares contemplated under the Penjing transaction.
Gottex said the minimum price to be paid should be 10% below the average market price of the shares on the SIX Swiss Exchange on the most recent trading day before the purchase is made; the maximum price is 10% above that.
Gottex will hold an extraordinary general meeting on August 8 where shareholders will vote on the issue.
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