ABRDN AUSTRALIA EQUITY FUND, INC. ANNOUNCES DETAILS OF UPCOMING 1-FOR-3 REVERSE STOCK SPLIT
abrdn Australia Equity Fund (NYSE American: IAF) announced a 1-for-3 reverse stock split to be effective before the market open on October 23, 2025. Trading on a split-adjusted basis is expected to begin at the NYSE open on that date and the Fund will retain ticker IAF on NYSE American with a new CUSIP 003011111 (old CUSIP 003011103).
The reverse split converts every three outstanding shares into one share, reduces share count and proportionally raises per‑share NAV without changing total shareholder value or the Fund's portfolio. The Fund's quarterly distribution policy remains at an annual rate of 10% of the rolling three‑month average NAV. Fractional shares will be aggregated, sold on the NYSE and pro rata cash paid to holders net of customary fees.
abrdn Australia Equity Fund (NYSE American: IAF) ha annunciato un split azionario inverso 1-for-3 da rendere effettivo prima dell'apertura del mercato il 23 ottobre 2025. Si prevede che la negoziazione su base aggiustata per lo split inizi all'apertura della NYSE in tale data e il Fondo manterrà il ticker IAF su NYSE American con un nuovo CUSIP 003011111 (vecchio CUSIP 003011103).
Lo split inverso converte tre azioni outstanding in una, riduce il numero di azioni e aumenta proporzionalmente NAV per azione senza cambiare il valore totale per gli azionisti o il portafoglio del Fondo. La politica di distribuzione trimestrale del Fondo rimane a un tasso annuo di 10% della media mobile trimestrale del NAV. Le azioni frazionarie saranno aggregate, vendute sulla NYSE e pagate in contanti su base proporzionale agli azionisti al netto delle commissioni consuete.
abrdn Australia Equity Fund (NYSE American: IAF) anunció una reversión de acciones 1 por 3 que entrará en vigor antes de la apertura del mercado el 23 de octubre de 2025. Se espera que la negociación con base ajustada por el split comience en la apertura de la NYSE en esa fecha y el Fondo mantendrá el ticker IAF en NYSE American con un nuevo CUSIP 003011111 (antiguo CUSIP 003011103).
El split inverso convierte cada tres acciones en una, reduce el número de acciones y aumenta proporcionalmente el NAV por acción sin cambiar el valor total para los accionistas ni la cartera del Fondo. La política de distribución trimestral del Fondo se mantiene en una tasa anual del 10% del NAV de los últimos tres meses promediado. Las acciones fraccionarias serán agregadas, vendidas en la NYSE y se pagará en efectivo a los tenedores de manera proporcional, neto de las comisiones habituales.
abrdn Australia Equity Fund (NYSE American: IAF)는 1대 3 역분할을 발표했으며 이는 2025년 10월 23일 시장 개장 이전에 시행될 예정입니다. 해당 날짜의 NYSE 개장 시점에 분할 기준으로 거래가 시작될 것으로 예상되며 펀드는 NYSE American에서 티커 IAF를 유지하고 새로운 CUSIP 003011111을 부여받습니다(기존 CUSIP 003011103).
역분할은 매 3주를 하나의 주식으로 바꾸고 주식 수를 줄이며 주당 NAV를 비례적으로 상승시키지만 총 주주 가치나 펀드의 포트폴리오에는 영향을 주지 않습니다. 펀드의 분기별 배당 정책은 여전히 3개월 평균 NAV의 연 10%로 유지됩니다. 소수 주식은 합산되어 NYSE에서 매각되며 일반 수수료를 차감한 순현금이 보유주에게 비례 지급됩니다.
abrdn Australia Equity Fund (NYSE American: IAF) a annoncé une répartition inversée d'actions 1 pour 3 qui entrera en vigueur avant l'ouverture du marché le 23 octobre 2025. Le trading sur une base ajustée par la scission devrait commencer à l'ouverture de la NYSE à cette date et le Fonds conservera le ticker IAF sur NYSE American avec un nouveau CUSIP 003011111 (ancien CUSIP 003011103).
La split inverse convertit trois actions en une, réduit le nombre d'actions et augmente proportionnellement le NAV par action sans changer la valeur totale pour les actionnaires ni le portefeuille du Fonds. La politique de distribution trimestrielle du Fonds demeure à un taux annuel de 10 % de la moyenne mobile sur trois mois du NAV. Les fractions d'actions seront agrégées, vendues sur le NYSE et payées en espèces au prorata aux détenteurs nets des frais habituels.
abrdn Australia Equity Fund (NYSE American: IAF) hat einen 1-für-3 Rückwärtsaktien-Split angekündigt, der vor der Markteröffnung am 23. Oktober 2025 wirksam wird. Der Handel auf Split-Basis wird voraussichtlich bei Eröffnung der NYSE an diesem Datum beginnen, und der Fonds behält das Ticker-Symbol IAF an der NYSE American bei, mit einer neuen CUSIP 003011111 (alter CUSIP 003011103).
Der Rückwärts-Split wandelt drei ausstehende Aktien in eine Aktie um, reduziert die Anzahl der Aktien und erhöht proportional den NAV pro Aktie, ohne den Gesamtwert der Anteilseigner oder das Portfolio des Fonds zu verändern. Die vierteljährliche Ausschüttungspolitik des Fonds bleibt unverändert bei einer jährlichen Rate von 10 % des rollierenden 3-Monats-NAV. Bruchanteile werden aggregiert, an der NYSE verkauft und den Inhabern anteilig abzüglich üblicher Gebühren in bar ausgezahlt.
abrdn Australia Equity Fund (NYSE American: IAF) أعلن عن تقسيم عكسي للأسهم 1 مقابل 3 ليصبح ساري المفعول قبل افتتاح السوق في 23 أكتوبر 2025. من المتوقع أن يبدأ التداول على أساس ما بعد الانقسام عند افتتاح NYSE في ذلك التاريخ وسيحتفظ الصندوق بالرمز IAF في NYSE American مع CUSIP جديد 003011111 (كان CUSIP القديم 003011103).
يقوم الانقسام العكسي بتحويل كل ثلاث أسهم قائمة إلى سهم واحد، ويقلل عدد الأسهم ويرفع NAV للسهم بشكل نسبي دون تغيير القيمة الإجمالية للمساهمين أو محفظة الصندوق. تظل سياسة التوزيع ربع السنوية للصندوق عند معدل سنوي قدره 10% من NAV لمدة ثلاثة أشهر المتدحرجة. ستُجمّع الأسهم الكسريّة وتُباع في NYSE وتُدفع نقداً للمُلّاك بنسبتهم مع خصم الرسوم المعتادة.
abrdn Australia Equity Fund (NYSE American: IAF) 宣布进行 1对3的反向股票拆分，将于 2025年10月23日市场开盘前生效。基于拆分后的基础进行交易预计将于该日期在NYSE开市时开始，基金将在NYSE American保留代码 IAF，并获得新的 CUSIP 003011111（旧 CUSIP 003011103）。
反向拆分将每三股在外流通股合并为一股，减少股本并按比例提高每股 NAV，但不会改变总股东价值或基金投资组合。基金的季度分配政策仍保持年化率为 滚动三个月平均 NAV 的 10%。不足额的股份将汇总，在NYSE出售并向持有人按比例支付现金，扣除常规费用。
- 1-for-3 reverse split effective Oct 23, 2025
- New CUSIP assigned: 003011111
- Quarterly distribution policy unchanged at 10% annual rate
- Fund expects higher market price per share and potential liquidity improvement
- Share count will decline by two-thirds after the 1-for-3 split
- Fractional-share proceeds paid in cash net of customary fees
- Reverse split does not eliminate risk of shares trading at a discount to NAV
Insights
1-for-3 reverse split scheduled for
The Board approved a 1-for-3 reverse stock split that will consolidate every three existing shares into one share and assign a new CUSIP (003011111). The action reduces the outstanding share count and should increase the market price per share proportionally while leaving the Fund's portfolio holdings and total shareholder value unchanged.
The Fund retains its stated quarterly distribution policy at an annual rate of
Key dependencies and near-term items to watch include trading on a split-adjusted basis beginning at the open on
The Fund anticipates completing a 1-for-3 reverse stock split prior to the open of trading on the New York Stock Exchange (the "NYSE") on October 23, 2025. Trading in shares of the Fund's common stock on a split-adjusted basis is expected to begin at the open of trading on the NYSE on October 23, 2025. Shares of the Fund's common stock will continue trading on the NYSE American under its existing ticker symbol (NYSE American: IAF) but will be assigned the new CUSIP number below.
|
Ticker |
Fund Name |
Old CUSIP |
New CUSIP |
|
IAF |
abrdn Australia Equity Fund, Inc. |
003011103 |
003011111 |
As a result of the reverse stock split, every three shares of the Fund's outstanding common stock will be converted into one share of common stock. A reverse stock split will decrease the number of the Fund's shares of common stock outstanding and potentially increase the market price per share of common stock by a proportional amount. While the number of the Fund's outstanding shares of common stock will decline, neither the Fund's portfolio holdings nor the total value of stockholders' investments in the Fund will be affected as a result of the reverse stock split. After the reverse stock split, common stockholders' accounts will reflect proportionally fewer shares of common stock with a higher net asset value per share of common stock and each common stockholder will hold the same percentage of the Fund's outstanding shares of common stock as such stockholder held immediately prior to the reverse stock split, subject to adjustments for fractional shares resulting from the reverse stock split (discussed below).
The reverse stock distribution does not alter the Fund's commitment to its current policy of paying quarterly distributions at an annual rate of
The Board of Directors and Aberdeen believe that increasing the market price per share of the Fund's common stock through the reverse stock split may broaden the range of potential investors in shares of the Fund's common stock, thereby potentially improving the market for, and liquidity of, shares of the Fund's common stock. This would have the effect of reducing the per share transaction costs associated with buying or selling shares of the Fund's common stock in the secondary market.
No fractional shares will be issued as a result of the reverse stock split. Fractional shares that may result from the reverse stock split will be aggregated and sold on the NYSE by the Fund's transfer agent and the proceeds will be distributed pro rata among stockholders who would otherwise have received fractional shares in the reverse stock split. The pro rata cash payment received by stockholders will be net of any customary fees and expenses in proportion to their allocable share of the total proceeds of the sales. Stockholders will be receiving additional information regarding the reverse stock split from Computershare Trust Company, N.A., the Fund's transfer agent.
In
The value at which a closed-end fund stock may trade on a public exchange is a function of external market factors that are not at the control of the Fund's Board or Investment Advisor. Closed-end Fund shares may therefore trade at a premium or a discount to net asset value at any given time. Shareholders should be aware that a fund trading at a premium to net asset value may not be sustainable and a fund's discount to net asset value, can widen as well as narrow. Shareholders of a fund trading at a premium who participate in that fund's dividend reinvestment plan should note the reinvestment of distributions may occur at a premium to net asset value.
Closed-end funds are traded on the secondary market through one of the stock exchanges. A fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.
abrdn Australia Equity Fund, Inc. | Aberdeen
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SOURCE abrdn Australia Equity Fund, Inc.
FAQ
When will abrdn Australia Equity Fund (IAF) complete the 1-for-3 reverse stock split?
What happens to my shares of IAF after the 1-for-3 reverse split?
Will IAF’s dividend or distribution policy change after the reverse split?
How will fractional shares be handled for IAF in the reverse split?
Will IAF continue trading under the same ticker after the reverse split?
Does the reverse split change the Fund’s NAV or portfolio holdings?
