Investment bank Morgan Stanley places 6.1 million shares in Inditex

By Margarita Snegireva. Morgan Stanley, an investment bank, announced on Thursday that it placed 6.1 million shares in Spanish retailer Inditex with institutional investors.

Photo: Investment bank Morgan Stanley places 6.1 million shares in Inditex

A trader in London said prior to the stock exchange statement that the shares were placed in a range of 33.75-34.25 euros. The placement represents 0.98 percent of Inditex's share capital.

Morgan Stanley is one of the largest and the most reputable investment banks and global financial services firm that serves a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley's world headquarter is in New York City, with regional headquarters in London and Hong Kong.

Inditex, Industrias de Diseño Textil, S.A. , in English, "Textile Design Industries, Inc.", is a large Spanish corporation and one of the world's largest fashion groups. It is made up of almost a hundred companies dealing with activities related to textile design, production and distribution. Amancio Ortega Gaona is the founder and current chairman of Inditex. He is also Spain's richest man.