CIC participates in Morgan Stanley's 2.2 billion-dollar IPO bullish outlook

The Chinese investment Company announced yesterday that Morgan Stanley plans to sell common shares and raise 2.2 billion of billions of dollars to repay all of its preferred shares in the tarp, the troubled asset purchase plan, by the end of June, with 2.2 billion of billions of common shares being raised in the open market. 　　Based on Morgan Stanley's partnership with CIC and CIC's preference for Morgan Stanley, CIC has decided to take part in the sale after Morgan Stanley contacted CIC. Raise funds to repay TARP loans Hong Kong time yesterday evening, Morgan Stanley announced plans to publicly allocate 2.2 billion of billions of common shares to meet regulatory requirements to redeem preferred shares sold under the US tarp in order to secure a full repayment of preferred shares in the US tarp by the end of June. 　　The shares are expected to be targeted for sale, including CIC and Mitsubishi UFJ Financial Group. CIC reached an agreement with Morgan Stanley in December 07 to buy a stake of no more than 9.9% for Morgan Stanley for about $5.58 billion trillion (about HK $39 billion). Under the agreement, CIC buys a convertible equity unit that is due to be converted into common stock at the time of the sale of Morgan Stanley, with a term of 2 years and 7 months, with interest payable at 9% per annum. 　　After the expiration of the conversion to the listing of Morgan Stanley shares, the price range for the shares of 48.07 to 57.684 dollars per share, after the total conversion of equity units, CIC will hold a stake in Morgan Stanley no more than 9.9%. CIC bullish on Morgan Stanley's outlook after more than a year of financial tsunami, Morgan Stanley's share price has changed. 　　According to Morgan Stanley's last night in the U.S. stock exchange of 29.89 U.S. dollars, its market value of about 32.34 billion U.S. dollars, 2.2 billion U.S. dollars is equivalent to Morgan Stanley, about 6.8%, but if the deal at the time of the deal price, CIC, even with a share of 48.07 U.S. dollars, 2.2 billion U.S. dollars only about 4.23% of Morgan Stanley CIC says Morgan Stanley is a world-class investment bank with a global network and a wide range of product lines. Despite the impact of the international economic and financial crisis, the market expects its core business to be chopped off with the mail harmonic, and with the current international investment bank already undergoing a major restructuring, CIC believes that Morgan Stanley's financial environment will improve and be more competitive. After communication between the two sides, CIC decided to participate in the allotment plan.