NEW YORK, Dec. 13 /PRNewswire-FirstCall/ -- Aberdeen Australia Equity Fund, Inc. ("Fund") , a closed-end equity fund, has announced the effectiveness, on December 12, 2006, of the Fund's registration statement for the public offering of additional shares of the Fund's common stock. The underwriters for the offering are Citigroup Corporate and Investment Banking (book running manager), Merrill Lynch & Co. and A.G. Edwards. The registration statement covers the sale of 2,225,000 shares, at a price of $14.00 per share, and the underwriters have been granted an over allotment option to purchase an additional 333,000 shares at the public offering price. The trade date for the shares covered by the registration statement was December 12, 2006 and the settlement date will be December 15, 2006.
This announcement does not constitute an offer to sell nor the solicitation of an offer to buy. The offer is made only by the Fund's prospectus.
Copies of the prospectus may be obtained in any state from only such of the underwriters as may lawfully offer these securities in compliance with the securities laws of such state. Investors should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund, and should be read carefully before investing.
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