NEW YORK, Nov. 20 /PRNewswire-FirstCall/ -- Cohen & Steers, Inc. (NYSE:
CNS) announced today that Cohen & Steers Closed-End Opportunity Fund, Inc.
has completed the pricing of its initial public offering. The Fund, which
is the first of its kind, will issue 23,750,000 million shares at $20 per
share, raising a total of approximately $475 million in assets (before
deduction of the sales charge and the exercise of the greenshoe, if any).
The fund's shares will begin trading on November 21, 2006 on the New York
Stock Exchange under the symbol "FOF."
The fund's primary investment objective is total return. The fund will
seek to achieve its objective by investing in the common stock of
closed-end funds, selected by Cohen & Steers, that invest significantly in
equity or income-producing sectors, strategies and securities.
Cohen & Steers Capital Management, Inc., which serves as the fund's
investment manager, is a wholly owned subsidiary of Cohen & Steers, Inc., a
publicly traded company whose common stock is listed on the New York Stock
Exchange under the symbol "CNS."
Merrill Lynch, Pierce Fenner & Smith Incorporated is acting as the lead
underwriter in connection with the proposed offering.
As with any investment, the price of the fund's shares will fluctuate
with market conditions and, at the time of sale, may be worth more or less
than the original investment. Please consider the investment objectives,
risks, charges and expenses of the fund carefully before investing. This
and other information about the fund is included in the prospectus. Call
1-800-330-7348 for a prospectus. Please read the prospectus carefully
before investing.
Cohen & Steers is a manager of high-income equity portfolios,
specializing in U.S. REITs, international real estate securities, preferred
securities, utilities and large cap value stocks. Headquartered in New York
City with offices in Brussels, Hong Kong, London and Seattle, the firm
serves individual and institutional investors through a wide range of
open-end mutual funds, closed-end mutual funds and institutional separate
accounts.
SOURCE Cohen & Steers, Inc.
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Related links:
http://www.cohenandsteers.com
CONTACT:
John McCombe, Executive Vice President and
Director of Marketing, +1-212-832-3232
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