TOKYO, May 11, 2009 (AFP) - Japan's Mitsubishi UFJ Financial Group (MUFG) said Monday that it would receive 600 million dollars' worth of shares in Morgan Stanley as part of the Wall Street giant's latest fund-raising move.

But MUFG will not provide any fresh capital because the shares will be swapped for preferred stock, with no voting rights, that the Japanese bank bought last year when it invested nine billion dollars in Morgan Stanley.

MUFG said that following the latest transaction it would hold more than 20 percent of the common shares of Morgan Stanley.

The US bank said Friday it had made a public offering of common stock valued at about 3.5 billion dollars after the results of Washington's "stress tests" showed it needed to boost its capital.

It said it would also offer four billion dollars in bonds not guaranteed by deposit insurance.

Mitsubishi UFJ and Morgan Stanley announced plans in March to merge their securities firms in Japan to weather the credit crunch.