Morgan Stanley Closes in on Controlling Stake in China JV
August 02 2019 - 5:40AM
Dow Jones News
By Martin Mou
Morgan Stanley (MS) is close to becoming the controlling
shareholder in its joint venture with China Fortune Securities,
after buying an additional 2% stake in the asset for 376.2 million
yuan ($54.5 million).
If approved, the 2% stake will bring the U.S. bank's total
holding in Morgan Stanley Huaxin Securities to 51%, Shanghai
Chinafortune Co. (600621.SH) said Friday in a filing to the
Shanghai Stock Exchange.
Shanghai Chinafortune is the parent company of China Fortune
Securities.
The transfer is subject to regulatory approvals, Shanghai
Chinafortune said.
Write to Martin Mou at martin.mou@wsj.com
(END) Dow Jones Newswires
August 02, 2019 05:25 ET (09:25 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Apr 2023 to Apr 2024
