LONDON – J.P. Morgan S.E has announced its role as the Stabilisation Coordinator for the upcoming offer of Flos B&B Italia S.p.A's securities, with the potential to stabilize the market price post-launch. The firm disclosed that the stabilization period for the €470 million Euro-denominated Senior Secured Notes, which are set to be listed on the Luxembourg Stock Exchange, commenced today and is expected to last until January 3, 2025.
The notes, described as EUR 5-year-Non-Call-1-year FRN (Floating Rate Notes), have not had their offer price disclosed yet. The stabilization measures, which are in line with EU market regulations, allow for over-allotment up to 5% above the aggregate nominal amount of the securities issued. This over-allotment facility is a common practice, intended to manage price volatility after the securities are released into the market.
J.P. Morgan S.E is acting as the Stabilisation Coordinator, with Bank of America (BOFA) serving as the Stabilisation Manager. The stabilization actions, which may include over-allotment or secondary market transactions, aim to support the market price of the securities at a level higher than what might otherwise naturally occur. However, there is no guarantee that stabilization will take place; if initiated, it can be halted at any time but must conclude within the specified period.
The offer and subsequent stabilization measures are directed at professional investors and high net worth individuals in the United Kingdom (TADAWUL:4280), as well as at qualified investors within the European Economic Area, in accordance with respective financial regulations. The announcement clarifies that these securities have not been registered under the United States Securities Act of 1933 and, therefore, cannot be offered or sold within the United States absent registration or an exemption from registration.
This notice, which is based on a press release statement, is primarily for informational purposes and does not constitute an offer to underwrite, subscribe for, or acquire securities in any jurisdiction. It is also not an offer of securities for sale into the United States. The London Stock Exchange (LON:LSEG)'s news service RNS, approved by the Financial Conduct Authority, provided this information.
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