Morgan Stanley arm buys Parkway shares
Sunday, 13 June 2010
NEW DELH, June 12 (Economic Times): Financial services firm Morgan Stanley said its UK-based arm, FrontPoint Management LLP, bought 75,000 shares of Singapore's Parkway Holdings at S$3.83 a share for a 'discretionary investment client,' in a filing to Singapore Stock Exchange.
Morgan Stanley is the independent adviser to the board of Singapore-based healthcare group Parkway for Malaysian fund Khazanah's offer to buy a controlling stake in the company. Khazanah's move could take away management control of Parkway from India's Fortis Healthcare.
Parkway's shares continue to trade above S$3.76, the price Khazanah has offered. It last traded at S$3.850 on the Singapore exchange, down half a percentage point.
Morgan Stanley is the independent adviser to the board of Singapore-based healthcare group Parkway for Malaysian fund Khazanah's offer to buy a controlling stake in the company. Khazanah's move could take away management control of Parkway from India's Fortis Healthcare.
Parkway's shares continue to trade above S$3.76, the price Khazanah has offered. It last traded at S$3.850 on the Singapore exchange, down half a percentage point.