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LONDON - ING Bank N.V. announced Thursday it may act as stabilizing manager for Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.’s (FMO) upcoming EUR 11NC6 T2 securities offering.
The stabilization period is expected to begin today and last up to 30 days after the proposed issue date, according to a press release statement. During this time, ING may conduct transactions to support the securities’ market price at levels higher than might otherwise prevail.
As part of the stabilization measures, ING may over-allot securities to the extent permitted by applicable law. However, the bank noted there is no assurance that any stabilization action will be taken, and any such action may end at any time.
The securities have not been registered under the United States Securities Act of 1933 and will not be offered or sold in the United States without registration or an exemption.
The announcement specified that in the United Kingdom (TADAWUL:4280), the offer is directed only at persons with professional investment experience or high net worth individuals as defined under the Financial Services and Markets Act 2000.
Similarly, in European Economic Area member states that have implemented the Prospectus Directive, the offer targets only qualified investors as defined by the directive.
All stabilization actions will be conducted in accordance with applicable laws and rules, the bank stated.
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