Boston, MA 04/15/2014 (wallstreetpr) – Morgan Stanley (NYSE:MS), a $57 billion provider of global financial services, has been tapped to help with the coordination of the stock sale at the initial public offering (IPO) of the Internet domain vendor Go Daddy.
The Internet registrar is expected to perform its IPO later this year, during which its current investors are expected to offer some of their shares for sale. The company is owned as a joint venture of Technology Crossover Ventures, Kohlberg Kravis Roberts and Silver Lakes, the latter two being private equity firms. The investors acquired the company three years ago for $2.25 billion.
Morgan Stanley (NYSE:MS) has been hired for the IPO alongside its big brother JPMorgan Chase & Co. (NYSE:JPM). The banks will ensure smooth and successful stock offering as the domain seller seeks to join the league of the publicly traded companies.
Scant details
There are currently very little details about the amount of shares that will be available for sale in the IPO. It is also not known the amount of money that the IPO is expected to generate. However, plans for the IPO are moving ahead in full speed.
Realignment at the brokerage arm
As Morgan Stanley (NYSE:MS) prepares to help Go Daddy conduct a successful IPO, the company recently announced realignment of its brokerage arm. The company announced that it was keen on running an efficient and more powerful brokerage unit and for that matter it announced a reduction of its U.S. geographical divisions to two from three. The number of regions reporting to the division heads was also chopped to eight, down from 12.
Morgan Stanley (NYSE:MS) recently named Shelley O’Connor to lead its brokerage unit, which is among the largest in the world with financial advisers numbering more than 16,000. Following a tour of the branches, Ms. O’Connor felt it necessary to streamline the division.
Morgan Stanley (NYSE:MS), like most other banks, is keen on strengthening its wealth management team as the sector is expected to play a key role in the growth of the financial industry.
