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Morgan Stanley ceases to be substantial shareholder of Vertex Tech

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Claudia Chong

Claudia Chong

Published Wed, Nov 30, 2022 · 07:37 PM
    • Morgan Stanley now has a deemed interest of 4.6 per cent in VTAC, down from a deemed interest of over 6 per cent, with 2.5 million shares.
    • Morgan Stanley now has a deemed interest of 4.6 per cent in VTAC, down from a deemed interest of over 6 per cent, with 2.5 million shares. PHOTO: BT FILE

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    MORGAN Stanley has disposed of the 603,636 shares of Vertex Technology Acquisition Corp (VTAC) it picked up on Nov 23, and ceased to be a substantial shareholder of the special purpose acquisition company (SPAC).

    A bourse filing on Wednesday (Nov 30) showed that Morgan Stanley now has a deemed interest of 4.6 per cent in VTAC, down from a deemed interest of over 6 per cent, with 2.5 million shares.

    Morgan Stanley may, following the acquisition which was due to an “aggregation of global position”, exercise the right to “rehypothecate or dispose of” the shares.

    Units of VTAC closed unchanged at S$4.52 on Wednesday.

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    Vertex Technology Acquisition Corp (VTAC)

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