LONDON - J.P. Morgan Securities PLC has announced that it did not undertake any stabilization actions for the CBB International Sukuk Programme Company W.L.L.'s recent securities offering. The notice, released on Thursday, follows a pre-stabilization period announcement made on Wednesday.
The securities in question, issued by CBB International Sukuk Programme Company W.L.L. and guaranteed by the Kingdom (TADAWUL:4280) of Bahrain through its Ministry of Finance and National Economy, amounted to an aggregate nominal amount of USD 1.25 billion. Described as Long 7yr FXD Senior Unsecured Ijara/Murabaha Sukuk Notes, these securities were listed on the London Stock Exchange (LON:LSEG)'s Main Market.
Stabilization measures are typically conducted to support the market price of securities immediately after an offering to prevent or retard a decline in their market price. However, J.P. Morgan, acting as the stabilization coordinator, alongside other stabilization managers including Dubai Islamic Bank, First Abu Dhabi Bank, KIB Invest, Mashreqbank psc, National Bank of Bahrain B.S.C., and Standard Chartered (OTC:SCBFF) Bank, reported no such activities were necessary.
The offer price for these securities was set at 100.000%. As per the regulations, no invitation or offer to underwrite, subscribe for, or otherwise acquire or dispose of the securities was implied by the announcement.
This notice is considered a routine disclosure following a securities offering and is part of the regulatory requirements to inform the market about stabilization activities, or the lack thereof. The information is based on a press release statement and is intended for general informational purposes only.
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