Morgan Stanley becomes latest substantial shareholder at Vertex Tech

MORGAN Stanley is now a substantial shareholder of Vertex Technology Acquisition Corporation (VTAC), Singapore’s first special purpose acquisition company (Spac).

In a bourse filing on Tuesday (May 16), VTAC announced that Morgan Stanley had acquired another 1.2 million VTAC shares on May 12.   

This took Morgan Stanley’s deemed interest in VTAC to some 3.3 million shares or a stake of about 7.9 per cent from a stake of 2.1 million shares or 4.989 per cent prior to the acquisition. 

Units of VTAC closed flat on Tuesday at S$4.63.