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

Tuesday, March 10, 2015

Zalando backers to sell 7.3 percent in placement, (NYQ: MS)

A group of early backers of German online fashion retailer Zalando is selling 7.3 percent of shares in the company in a placement, joint bookrunner Morgan Stanley said on Tuesday. Global Founders, the investment vehicle of the Samwer brothers, along with Holtzbrinck Ventures, AI European Holdings and Rocket Internet will place up to 17.9 million shares in an accelerated bookbuilding, Morgan Stanley said.

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 1.864% or $-0.665/share to $35.00. In the past year, the shares have traded as low as $28.31 and as high as $39.19. On average, 10583900 shares of MS exchange hands on a given day and today's volume is recorded at 4849118.