HONG KONG—Morgan Stanley is set to increase its stake in its brokerage joint venture in China by 4.06 percent to 94 percent, an exchange filing showed on Wednesday, putting it on track to take full ownership of the business.
The U.S. bank will inject 698 million yuan (about $110 million) to boost the registered capital of the unit, a venture formed by Morgan Stanley and China Fortune Securities Co. in 2011, to 1.71 billion yuan (about $268.3 million), according to an exchange filing by China Fortune.
