LONDON - J.P. Morgan SE has announced that no stabilisation actions were carried out following the recent bond issue by Public Property Invest ASA. The notice, dated today, follows the pre-stabilisation period announcement made on Sunday, which detailed the potential for such activities.
The bond, described as a EUR long 5-year senior unsecured Reg S bearer bond, has an aggregate nominal amount of EUR 300 million and is listed on the Euronext (EPA:ENX) Dublin Stock exchange. The offer price was set at 99.755%. J.P. Morgan SE served as the Stabilisation coordinator, with Citi, Danske, DNB Markets, and Nordea acting as Stabilisation managers.
Stabilisation activities are measures taken by underwriters to support the price of a security after its initial offering in the market. However, in this case, the Stabilisation Manager(s) have confirmed that no stabilisation was undertaken in relation to the securities offered by Public Property Invest ASA.
The announcement is informational and clarifies that the stabilisation period has concluded without the need for intervention. It also emphasizes that the information does not serve as an invitation or offer to underwrite, subscribe for, or acquire securities in any jurisdiction.
Stabilisation is subject to strict regulations, including the Market Abuse Regulation (EU/596/2014) and the rules of the Financial Conduct Authority. The absence of stabilisation activities can indicate that the market has naturally supported the security's price, or that the underwriters have determined that such measures are not necessary.
This information is sourced from a press release statement and is provided by RNS, the news service of the London Stock Exchange (LON:LSEG), which is authorized by the Financial Conduct Authority in the United Kingdom (TADAWUL:4280) to act as a Primary Information Provider. Terms and conditions related to the use and distribution of this information may apply.
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