The American Stock Exchange (Amex) has appointed Morgan Stanley to advise them during the preparation and execution of their plan to become a shareholder-owned company. They will also be advising them on potential strategic future initiatives.
This demutualisation would convert the Exchange from a not-for-profit corporation into a for-profit corporation. Amex seat owners would have the opportunity to vote on any proposed demutualisation plan, which would convert their seats into shares.
“We are pleased to have Morgan Stanley, a leading global investment bank with a strong track record in exchange advisory and capital raising, on board to position the Amex for the future,” says Neal Wolkoff, the Chairman and Chief Executive Officer of Amex.