Morgan Stanley & Co. International Plc. purchased a five-percent stake in Novorossiysk Commercial Sea Port (NCSP), the port's official documents state according to RBC. The company had not owned any of the company's shares until today.
Meanwhile, Morgan Stanley and Troika Dialog, which acted as managers of NCSP's IPO, have fully exercised their over-allotment option (the right of underwriters to distribute extra issued shares among investors). As a result, the two companies purchased 4,756,230 GDRs at the company's offering price.