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Morgan Stanley reveals stock purchase in bankrupt cosmetics company Revlon

By Shubhangi Mathur - Aug 15, 2022, 03:28 PM ET

Last Updated - Jun 10, 2024, 06:57 AM EDT

Morgan Stanley (NYSE: MS) on Monday revealed it purchased 400,650 shares in Revlon Inc (NYSE: REV) over the last quarter

Morgan Stanley (NYSE: MS) on Monday revealed it purchased 400,650 shares in Revlon Inc (NYSE: REV) over the last quarter.

Shares of Revlon soared nearly 12% on Monday.

According to a filing, Morgan Stanley’s stake increased by approximately 1,793% in the bankrupt cosmetics company after the purchase.

Revlon filed for Chapter 11 bankruptcy in June, after which the company received approval for a $1.4 billion bankruptcy loan on August 1.

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Morgan Stanley (NYSE: MS) on Monday revealed it purchased 400,650 shares in Revlon Inc (NYSE: REV) over the last quarter

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Morgan Stanley reveals stock purchase in bankrupt cosmetics company Revlon

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