Banking, finance, and taxes
Morgan Stanley Already Filing To Lower MSCI Stake (MXB, MS)
Published:
Last Updated:
MSCI Inc. (NYSE: MXB) has filed to sell up to 30,861,235 shares in a secondary offering. Unfortunately, all of the shares are from selling holders. Those selling holders are Morgan Stanley (NYSE: MS) and Capital Group International, Inc, so none of the sold shares will go to MSCI’s coffers.
MSCI is provider of investment decision support tools to investment institutions. It produces index and risk and return portfolio analytics for use in managing investment portfolios, which are used by institutions in equity, fixed income and multi-asset class instruments.
Based on yesterday’s prices of $27.01 in the filing, this would allow a sale of up to $833 million. Its market cap is $2.85 Billion as a reference to the size of the potential securities sale. Shares closed at $28.49 yesterday and the trading range since its November 2007 IPO is $22.06 to $38.40.
Morgan Stanley is the majority owner, hence the MSCI name.
You can join our open email distribution list to hear about special financings, secondary offerings, IPO’s, M&A, and more previews for other special situations in various stages.
Jon C. Ogg
April 11, 2008
Jon Ogg produces the Special Situation Investing Newsletter. He can be reached at [email protected] and he does not own securities in the companies he covers.
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
