Morgan Stanley to infuse $20 million in Ess Dee

DUBAI — Ess Dee Aluminium Ltd, an end-to-end pharmaceutical packaging solutions provider which sources its entire raw material from Bahrain's GARMCO has decided to issue 5 per cent shares to Morgan Stanley on a preferential allotment basis.

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Published: Fri 17 Aug 2007, 10:12 AM

Last updated: Sat 4 Apr 2015, 9:21 PM

Morgan Stanley will pay Ess Dee Aluminium a total of $20 million for the 1.41 million equity shares at $14.37 per share, subject to the approval of the shareholders of Ess Dee Aluminium Ltd. These shares will be acquired by Morgan Stanley at a premium of almost 12 per cent of the floor price. The said shares will be under lock-in for a period of one year.

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