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LONDON - J.P. Morgan Securities plc announced Wednesday it will act as stabilisation coordinator for Alinma AT1 Sukuk Limited’s upcoming USD benchmark perpetual non-call 5.5-year additional tier 1 mudaraba sukuk capital certificates.
The stabilisation period is expected to begin August 27, 2025, and end no later than September 27, 2025, according to a press release statement. The securities will be listed on the London Stock Exchange’s International Securities Market.
J.P. Morgan Securities plc will lead the stabilisation efforts alongside six other stabilisation managers: Abu Dhabi Islamic Bank, Alinma Capital Company, Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs, and Standard Chartered Bank.
As part of the stabilisation process, the managers may over-allot securities in an amount not exceeding 5% of the aggregate nominal amount and may conduct transactions to support the market price of the securities at a level higher than might otherwise prevail.
The sukuk certificates will be issued by Alinma AT1 Sukuk Limited with Alinma Bank serving as guarantor. The securities will be offered with a minimum denomination of USD 200,000 with increments of USD 1,000 thereafter.
The stabilisation activities are being conducted in accordance with Commission Delegated Regulation under the Market Abuse Regulation, though the announcement notes that stabilisation may not necessarily occur and any action may cease at any time before the end of the designated period.
The offer price for the sukuk certificates has yet to be determined, according to the announcement.
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