The LIC, Greater Asia Investments, will also offer 7 per cent half-yearly distributions and shareholders will be given free options that are exercisable at a discount to the initial public offering (IPO) price. "This is a game-changing strategy for the LIC sector. These measures should bridge the current discount gap between NTA (net tangible assets) and share price currently experienced by the sector," Atlas managing director John Pereira said.
Greater Asia's IPO aims to raise $70 million and would invest the money in the IOF Dragon Peacock Fund, a product run by British insurer Prudential's asset management arm.
