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GREATER CHINA FUND'S ANNOUNCES REGISTRATION STATEMENT FOR OFFERING DECLARED EFFECTIVE

 GREATER CHINA FUND'S ANNOUNCES REGISTRATION STATEMENT FOR
 OFFERING DECLARED EFFECTIVE
 NEW YORK, July 21 /PRNewswire/ -- The Greater China Fund, Inc. has announced that the registration statement relating to its initial public offering of 6,750,000 shares of common stock at $15 per share was declared effective by the Securities and Exchange Commission. Trading in the fund's shares commenced on Wednesday, July 15, 1992, on the New York Stock Exchange under the symbol GCH. The fund's shares were offered in concurrent domestic and international offerings of 5,250,000 and 1,500,000 shares, respectively. The managing underwriters for the U.S. offering were PaineWebber Incorporated (books), Dillon, Read & Co. Inc. and Nomura Securities International, Inc. and the co-lead managers for the international offering were PaineWebber International, Baring Brothers & Co., Limited, Dillon, Read & Co. Inc., Nomura International and S.G. Warburg Securities. The underwriters have been granted over- allotment options to purchase an aggregate of 1,012,500 additional shares to cover over-allotments.
 The Greater China Fund, Inc. is a newly organized, closed-end investment company. The fund's investment objective is long-term capital appreciation through investment of substantially all of its assets in listed equity securities of companies which derive, or which are expected to derive, a significant proportion of their revenues from goods produced or sold, investments made or services performed in The People's Republic of China.
 Baring International Investment (Far East) Limited, a subsidiary of Baring Asset Management Limited, will serve as the fund's investment manager. Baring International Investment (Far East) Limited is a Hong Kong Corporation incorporated in 1982 to advise U.S. institutional clients with respect to investment in Asia.
 -0- 7/21/92
 /CONTACT: Barbara Hynes, 212-921-1060, for Greater China Fund/ CO: Greater China Fund Inc. ST: New York IN: FIN SU:


SH -- NY089 -- 1439 07/21/92 14:54 EDT
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Publication:PR Newswire
Date:Jul 21, 1992
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