Aberdeen Income Fund MIN Approves 1-for-6 Reverse Stock Split
The board of Aberdeen Intermediate Income Fund approved a 1-for-6 reverse split, consolidating every six common shares into one.
The Board of Trustees of Aberdeen Intermediate Income Fund, traded on the New York Stock Exchange under the ticker MIN, has approved a 1-for-6 reverse stock split of all issued and outstanding common shares, the Philadelphia-based fund announced Thursday.
Under the terms of the transaction, shareholders will receive one new common share for every six shares they currently hold. Reverse splits of this structure typically reduce a fund's total share count while proportionally increasing the per-share price, leaving the overall market value of an individual investor's position unchanged at the time of the adjustment.
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The move follows a pattern seen among closed-end funds that use reverse splits to bring share prices to levels more consistent with institutional trading norms or exchange listing standards. Aberdeen has not publicly detailed the specific regulatory or strategic rationale behind the timing of this action, beyond the board's formal approval.
Investors holding fractional-share positions resulting from the consolidation should monitor communications from Aberdeen and their brokerage firms for details on how odd-lot remainders will be handled. No additional financial terms were disclosed in the announcement.
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