Wilson PonIs Morgan Stanley in Financial Trouble?
July 29th 2009 05:05
As one of the most renowned global financial services provides, Morgan Stanley is planned to raise a further US$2.2 billion. Well, they’ve decided to sell some of the shares in the bank, so that they can repay its TARP loans!
According to the latest news, Morgan Stanley is now awaiting approval from the Federal Reserve, which is helping them to repay the US$10 billion in emergency loans it was given earlier! Morgan Stanley alongside with other 18 United States’ banks have been granted loans of US$229 billion.
As one of banks that failed in the TARP test, Morgan Stanley has no choice, but to raise the money to repay the loan.
Morgan Stanley said it would sell 45 million shares to China Investment Corp, and 16 million to Japan’s Mitsubishi UFJ Financial Group!
It isn’t the first time Morgan Stanley selling its share, as it had already sold US$4.6 billion of stock and US$4 billion in debt few months ago.
According to the latest news, Morgan Stanley is now awaiting approval from the Federal Reserve, which is helping them to repay the US$10 billion in emergency loans it was given earlier! Morgan Stanley alongside with other 18 United States’ banks have been granted loans of US$229 billion.
As one of banks that failed in the TARP test, Morgan Stanley has no choice, but to raise the money to repay the loan.
Morgan Stanley said it would sell 45 million shares to China Investment Corp, and 16 million to Japan’s Mitsubishi UFJ Financial Group!
It isn’t the first time Morgan Stanley selling its share, as it had already sold US$4.6 billion of stock and US$4 billion in debt few months ago.
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