Business
Morgan Stanley nabs $142m Tyro Payments block – The Australian Financial Review
Equities desks are battling it out for a $145 million stake in Tyro Payments on Monday afternoon.
Morgan Stanley’s equities desk won a pitching contest for 35 million Tyro Payments shares on Monday night.
The broker agreed to buy the stake from Sydney-based fund manager TDM Growth Partners and was looking to offload the shares to other institutional investors soon after.
The trade was at $4.055 a share which was a 5.5 per cent discount to the last close.
Morgan Stanley was calling for bids by 8.30pm on Monday night, the term sheet sent to funds said.
The stake was worth $142 million or a…
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