BOSTON, April 7, 2020 /PRNewswire/ -- The Board of Directors of the Taiwan Fund, Inc. (NYSE: TWN) (the "Fund") announced today that it will continue the temporary suspension of repurchases under the Fund's Discount Management Program.
The Fund's Board of Directors noted that the impact of the COVID-19 pandemic on global economies and stock markets was creating excessive volatility in stock prices. Under such conditions, the Board determined that continued repurchases under the Discount Management Program was not in the best interests of the Fund or its stockholders. The Board will continue to monitor the situation and look to reinstate repurchases under the Program as soon as it is in the best interests of the Fund and its stockholders to do so.
The Fund is a diversified closed-end investment company, which seeks long term capital appreciation primarily through investments in equity securities listed on the Taiwan Stock Exchange. Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol "TWN."
For additional information on the Fund, including information on the Fund's holdings, visit the Fund's website at www.thetaiwanfund.com or call 1-877-217-9502.
SOURCE The Taiwan Fund, Inc.