NNIT, the information technology unit of Danish pharmaceuticals company Novo Nordisk , said on Tuesday it had appointed Morgan Stanley and Danske Bank to advise on the possibility of a separate listing. Novo Nordisk announced in January it was looking into the possibility of spinning off NNIT, saying it wanted to concentrate on its core activity.NNIT published an operating profit (EBIT) of 246.5 million Danish crowns ($46.00 million) on Tuesday, up 13.7 percent from 2012. It said it expected EBIT to grow by 10 percent in 2014.That put it in a strong position, said its Chief Financial Officer, Krogsgaard Thomsen. "So this means the evaluation of a potential listing on the stock exchange continues as planned," he added.
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 0.87% or $0.27/share to $31.37. In the past year, the shares have traded as low as $20.16 and as high as $33.52. On average, 13206700 shares of MS exchange hands on a given day and today's volume is recorded at 6891091.
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