LONDON - J.P. Morgan S.E. has announced the initiation of a pre-stabilization period starting today, as part of NN Group (AS:NN) N.V.’s latest securities offering. The firm, acting as the Stabilisation Coordinator, disclosed that the Stabilising Managers may engage in transactions to support the market price of the securities.
The securities in question are RegS Bearer benchmark perpetual Restricted Tier 1 offerings, with a resettable feature in year 10, and are to be listed on Euronext (EPA:ENX) Dublin. Although the offer price is yet to be confirmed, the aggregate nominal amount is set at a EUR Benchmark, with individual offers at EUR 200,000 x 1,000.
The stabilization period, which is governed by relevant EU regulations, is slated to commence today and is expected to conclude by April 4, 2025. During this time, Stabilising Managers possess the authority to over-allot securities up to 5% beyond the aggregate nominal amount initially stated.
The consortium of Stabilising Managers includes prominent financial institutions such as BNP Paribas (OTC:BNPQY), Citigroup (NYSE:C), Deutsche Bank, ING, Natixis, and UniCredit, alongside J.P. Morgan S.E. as the coordinator. Any stabilization activity will be conducted over the counter, with the specifics to be confirmed.
Stabilization actions aim to underpin the securities’ market price, potentially higher than what might otherwise prevail. However, there is no guarantee that stabilization will occur, and if initiated, it may end at any time within the specified period.
This pre-stabilization notice is strictly for informational purposes and should not be construed as an invitation or offer to underwrite, subscribe for, or acquire securities. The announcement targets qualified investors and those with relevant professional investment experience in the UK and EEA member states, in accordance with local regulations.
The securities discussed have not been registered under the United States Securities Act of 1933 and, as such, may not be offered or sold within the United States absent registration or an exemption from registration. Consequently, there will be no public offering of these securities in the United States.
This information is based on a press release statement and is intended to provide investors with essential details regarding the pre-stabilization period and the offering by NN Group N.V.
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