Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, November 12, 2014

Ferrovial chairman raises company stake by 3.1 percent, (NYSE: MS)

Ferrovial Chairman Rafael del Pino has raised his stake in the Spanish infrastructure firm after buying an additional 3.1 percent in a block trade, the company said on Wednesday.At the same time, del Pino, though his Rijn Capital holding company, has entered into a so-called forward sale agreement with Mediobanca, enabling him to sell on the package of 23 million shares in the future.Ferrovial said the 23 million shares had belonged to an unnamed family member who was not on the company's board.Earlier on Wednesday, Morgan Stanley said it was working with Mediobanca to place 3.1 percent of Ferrovial in the market, worth 365 million euros ($455 million) at current market prices.

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 0.47% or $0.17/share to $35.96. In the past year, the shares have traded as low as $28.31 and as high as $36.44. On average, 9840070 shares of MS exchange hands on a given day and today's volume is recorded at 4873453.