Morgan Stanley to Raise Capital Through Sale of MSCI Shares

Morgan Stanley will raise $595.7 million as it sells of its remaining 27.7 million shares in indexing and analytics company MSCI Inc.

Morgan Stanley Chief Executive John J. Mack said that the deal would give Morgan Stanley capital to reinvest in its core activities, such as institutional securities, asset management and global wealth management.

Morgan Stanley in July sold 23 million of its then-53-million-share stake as was reeling from the credit crunch. The company announced Monday that it would sell off its remaining stake in MSCI, which went public via a November 2007 initial public offering.

Read Full Article from Wall Street Journal

- Posted: 2009-05-19 09:38:24

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