Morgan Stanley captured the coveted lead left spot on IPOs for Reddit and Astera Labs this week.
The bank is positioned to collect roughly $37 million in combined fees, a small number for Morgan Stanley but a boost for an investment banking unit that's been hit in the past couple years.The New York Stock Exchange welcomes Reddit, Inc. to celebrate its initial public offering. To honor the occasion, Snoo, rings the Opening Bell®.
Some market experts see the past week's action as a sign of what's to come. New York Stock Exchange President Lynn Martin told CNBC on Thursday, at the opening of Reddit trading, that a lot of companies are working toward going out in the second quarter.That would be welcome news for Morgan Stanley. The bank collected around $37 million in total fees as the lead underwriter for the Astera and Reddit IPOs.
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