Morgan Stanley Asia (Singapore) said its associate, Morgan Stanley & Co. International plc, traded units of Paragon REIT (SGX:SK6U) on March 18 as part of an index hedge, according to a Wednesday filing on the Singapore Exchange.
Morgan Stanley bought 7,396 units at SG$0.97 each, totaling SG$7,174, and sold 1,651 units at the same price for SG$1,601. The firm now holds 483,041 units, or about 0.017% of Paragon REIT's outstanding units.
The trades were conducted independently of the proposed trust scheme of arrangement to privatize Paragon REIT, which is being managed by Paragon REIT Management and Times Properties, a Cuscaden Peak subsidiary.
Morgan Stanley is advising the Paragon manager on the deal.
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