Nitro Software investor clears out, MS nabs trade : comparem

Nitro Software investor clears out, MS nabs trade


Nitro Software investor clears out, MS nabs trade
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Morgan Stanley’s equities desk has found buyers for a near 10 per cent stake in ASX-listed Nitro Software Ltd.
The stockbroker handled a $60 million trade at $3.15 on Friday, selling the stock at a 2.7 per cent discount to the last close.
Investor sources said the stock went to instutions, while there was one prime candidate as the seller.
That candidate was private investment firm Starfish Ventures which was Nitro’s biggest shareholder with 17.5 million shares or a 9.23 per cent stake as February 15, according to Nitro’s most recent annual report.
Starfish retained the stake at Nitro’s initial public offering in November 2019 and it was under escrow under the release of the software company’s FY20 results, in February.

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