Morgan Stanley & Co and JPMorgan Chase & Co were hired to manage a potential initial public offering of the combined e-commerce units of France's Casino Guichard Perrachon & Cie and its Brazilian subsidiary, a source with direct knowledge of the situation said on Tuesday. Casino and GPA SA, as the French retailer's Brazilian unit is known, are considering plans to combine their online businesses, which have more than $4 billion of sales, and listing the resulting entity in the United States, according to a joint securities filing.
JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company. Shares of JPM fell by 1.62% or $-0.88/share to $53.34. In the past year, the shares have traded as low as $48.61 and as high as $61.48. On average, 19161800 shares of JPM exchange hands on a given day and today's volume is recorded at 25327416.
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 fell by 2.03% or $-0.61/share to $29.46. In the past year, the shares have traded as low as $23.06 and as high as $33.52. On average, 12742600 shares of MS exchange hands on a given day and today's volume is recorded at 16285597.
Source
