GEMS Education, a Dubai-based schools operator, has set initial pricing thoughts of an 11.75-12.00 percent profit rate for its planned debut sale of hybrid Islamic bonds, according to a document from lead arrangers. The company, which employs about 11,000 staff and operates around 100 private schools across the Gulf region, has hired Morgan Stanley Inc, Credit Suisse and Abu Dhabi Islamic Bank (ADIB) to arrange the sale.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 2.21% or $0.65/share to $30.09. In the past year, the shares have traded as low as $15.95 and as high as $30.10. On average, 13093500 shares of MS exchange hands on a given day and today's volume is recorded at 13979426.
Source
