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LONDON - ING Bank N.V. has announced the possibility of market stabilization activities related to the issuance of new bonds by Enexis Holding N.V., starting from today. The bank may engage in transactions to support the market price of the securities at a level higher than what might otherwise prevail in the open market.
The securities in question are described as EUR denominated with 8-year and 12-year maturities, although the aggregate nominal amount has not been disclosed. ING Groep (AS:INGA) will act as the Stabilising Manager for this operation, which is expected to last no longer than 30 days following the issue date of the bonds.
Stabilization efforts are a common practice in the securities market, aimed at reducing price volatility following the launch of a new offering. ING Bank may over-allot the securities as part of these efforts, within the limits of the law.
The bank’s intervention, however, is not guaranteed, and any stabilization action, if initiated, can be discontinued at any time. All activities will be conducted in compliance with applicable laws and regulations, including the Market Abuse Directive as implemented by Commission Regulation (EC) No. 2273/2003.
This move is intended for professional investors and high net worth individuals in the United Kingdom (TADAWUL:4280), as well as qualified investors in the European Economic Area, in line with the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and the Prospectus Directive.
The announcement clarifies that this is not an offer for sale of securities in the United States, as the securities have not been registered under the United States Securities Act of 1933 and cannot be sold there without registration or an exemption from registration.
The information is based on a press release statement and is intended for informational purposes only, not constituting an invitation or offer to underwrite, subscribe for, or otherwise acquire or dispose of any securities.
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