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Wednesday, March 11, 2015

Zalando backers sold 7.3 percent in share placement, (NYQ: MS)

A group of early backers of German online fashion retailer Zalando sold 7.3 percent of shares in the company in a placement, joint bookrunner Morgan Stanley said.Global Founders, Holtzbrinck Ventures, AI European Holdings and Rocket Internet placed 17.9 million shares in an accelerated bookbuilding at 23.75 euros per share, Morgan Stanley said, for a total of 425 million euros ($454 million).At its 5.3 billion-euro October initial public offering, shares in Zalando were listed at 21.50 euros per share.Global Founders is the investment vehicle of founder brothers Marc, Oliver and Alexander Samwer, through which they also hold 38 percent of Rocket Internet, the company run by Oliver Samwer.

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 2.21% or $-0.79/share to $34.88. In the past year, the shares have traded as low as $28.31 and as high as $39.19. On average, 10537100 shares of MS exchange hands on a given day and today's volume is recorded at 10996747.