UK-based FrontPoint Management LLP, a unit of Morgan Stanley <MS.N>, has bought 75,000 shares of Parkway Holdings <PARM.SI>, Asia’s biggest listed hospital operator, for $3.83 a share for an investment client, the bank said in an exchange filing.

Morgan Stanley is the independent financial adviser to Parkway, which is at the centre of a potential bidding war between Malaysian sovereign fund Khazanah and India’s Fortis Healthcare <FOHE.BO>. The US investment bank said FrontPoint’s dealing in Parkway shares was for a “discretionary investment client”. The purchase price is above Khazanah’s offer price of $3.78 a share.

Parkway shares were trading slightly lower at $3.86 at 12:20 p.m.