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DUBAI - J.P. Morgan Securities plc announced Wednesday it will act as Stabilization Coordinator for Binghatti Sukuk 2 SPV Limited’s upcoming USD benchmark senior unsecured sukuk offering, according to a press release statement.
The stabilization period is expected to begin September 24, 2025, and end no later than October 24, 2025. The securities will be issued by Binghatti Sukuk 2 SPV Limited with Binghatti Holding Limited as the obligor.
The offering consists of a long 3-year senior unsecured sukuk that will be listed on both the London Stock Exchange’s International Securities Market and Nasdaq Dubai. The securities will be offered in denominations of USD 200,000 with increments of USD 1,000.
J.P. Morgan Securities plc will lead the stabilization efforts alongside twelve other financial institutions acting as stabilization managers, including Abu Dhabi Commercial Bank, Dubai Islamic Bank, Emirates NBD Capital, and First Abu Dhabi Bank.
As part of the stabilization process, the managers may over-allot securities in an amount not exceeding 5% of the aggregate nominal amount. They may also conduct transactions to support the market price of the securities at levels higher than might otherwise prevail.
The sukuk will be offered under Regulation S and will not be registered under the United States Securities Act of 1933, making them unavailable for sale in the United States.
The announcement indicates that stabilization may not necessarily occur, and any stabilization action may cease at any time within the designated period.
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