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LONDON - ING Bank N.V. has signaled that it may engage in market stabilization activities for Orange SA (OTC:ORANY)’s upcoming bond issuance, according to a notice released today. The bank, acting as the Stabilising Manager, outlined that it could support the market price of the securities through transactions that may include over-allotment.
The securities in question are denominated in euros, with two separate tranches: one with a 4-year term and another with a 10-year term. While the aggregate nominal amount has not been disclosed, the stabilization period is set to begin today, May 12, 2025, and is expected to last no longer than 30 days from the issue date of the bonds.
Stabilization maneuvers are a recognized practice within the parameters of Commission Regulation (EC) No. 2273/2003, which is part of the Market Abuse Directive. These operations are designed to prevent price volatility during the launch of a new security, ensuring a more stable market environment.
The Stabilising Manager, ING Groep (AS:INGA), may over-allot the securities as part of the stabilization process, which is a common practice designed to manage supply and demand effectively. However, there is no certainty that stabilization actions will be executed, and if commenced, they can be halted at any time.
The announcement specifies that the offer and any subsequent stabilization actions are not an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any securities. Furthermore, the securities are not being offered for sale in the United States and have not been registered under the United States Securities Act of 1933.
This stabilization notice is directed at qualified investors outside the United Kingdom (TADAWUL:4280) or those within the UK who have professional experience in investment matters. It is not to be acted upon or relied on by other persons in the UK or the European Economic Area where the Prospectus Directive applies.
The information is based on a press release statement and is intended for informational purposes only. It does not serve as financial advice or an endorsement of the securities or the potential market stabilization activities by ING Bank N.V.
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