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LONDON - ING Bank N.V. has notified the market that it may engage in stabilization activities for its recently announced securities, as per a press release statement issued today. The bank’s London Branch, through its Stabilising Manager, has the potential to undertake measures to support the market price of the securities post-issuance.
The securities in question have not been detailed in terms of aggregate nominal amount, but they are described as EUR 6.5NC5.5 and EUR 11.5NC10.5. The stabilization period is expected to commence today, with a duration not exceeding 30 days from the issue date of the securities.
Stabilization, if executed, will be carried out by ING Groep (AS:INGA), the Stabilising Manager for this operation. The bank may over-allot the securities or conduct transactions to maintain the price at a higher level than what might naturally occur in the open market. However, there is no guarantee that stabilization will occur, and if initiated, it can be discontinued at any time.
These actions, if undertaken, will comply with all relevant laws, including Commission Regulation (EC) No. 2273/2003, which is part of the Market Abuse Directive (2003/6/EC). The announcement clarifies that this does not serve as an offer or invitation to underwrite, subscribe for, or acquire securities.
The offer and the stabilization notice are directed at qualified investors outside of the United Kingdom (TADAWUL:4280) or those within the UK who have professional experience in investment matters or are high net worth individuals, as defined by the Financial Services and Markets Act 2000.
Furthermore, the securities have not been registered under the United States Securities Act of 1933 and, as such, may not be offered or sold in the United States absent an exemption from registration. There will be no public offering of these securities in the United States.
This notice is informational and is disseminated by RNS, a news service of the London Stock Exchange (LON:LSEG), and is approved by the Financial Conduct Authority in the UK.
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