19 de mayo de 2009 / 13:56 / hace 8 años

UPDATE 1-Morgan Stanley: MSCI offering priced at $21.50/shr

2 MIN. DE LECTURA

May 19 (Reuters) - Morgan Stanley (MS.N) said the public offering of its remaining stake in MSCI Inc MXB.N -- the investment analysis and market index company spun-off from the investment bank in 2007 -- had been priced at $21.50 a share.

MSCI shares fell as much as 14 percent to $20.20 before paring some losses to trade down 10 percent at $21.13 Tuesday morning on the New York Stock Exchange.

The latest, and final, offering consists of 27.7 million shares of MSCI class A shares. Based on the offer price, the stake is worth about $595.6 million.

In a filing with the U.S. Securities and Exchange Commission on Monday, MSCI had disclosed that it will enter into a separation agreement with Morgan Stanley, agreeing to settle all intercompany amounts owed between them within 90 days of the closing of the offering. [ID:nBNG504188]

Morgan Stanley had indicated that it may divest its entire stake in MSCI and has been selling off portions from time to time since the spin-off.

In July 2008, Morgan Stanley sold about half its ownership interest in MSCI, or 23 million shares, at $32 a share. (Reporting by Supantha Mukherjee in Bangalore; Editing by Himani Sarkar)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below