On 4 December 2025, ANE (Cayman) Inc. released a public disclosure form regarding its proposed privatisation by way of scheme of arrangement. The announcement revealed that Morgan Stanley & Co., International plc, classified as a Class (5) associate connected with the offeror, disclosed a series of derivative transactions in ANE (Cayman) Inc. shares on 3 December 2025.
According to the form, Morgan Stanley & Co., International plc executed four sales and four purchases of derivatives involving a total of 114,000 underlying reference securities sold for approximately US$1.35 million and 115,000 underlying reference securities purchased for approximately US$1.36 million. The reference prices ranged from about US$11.8083 to US$11.8224. Each transaction showed a resultant balance of zero.
Morgan Stanley & Co., International plc stated that these dealings were made for its own account and confirmed that it is ultimately owned by Morgan Stanley.
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