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LONDON - J.P. Morgan Securities plc has announced that it did not undertake any stabilisation actions for the CBB International Sukuk Programme Company W.L.L.’s recent securities offering. The announcement follows the completion of an 8-year Sukuk Ijara/Murabaha Senior Unsecured Notes issuance, which aggregated a nominal amount of USD 1.75 billion and was listed on the London Stock Exchange (LON:LSEG)’s Main Market.
The securities were offered at 100.000%, with J.P. Morgan serving as the Stabilisation Coordinator. Other financial institutions, including Citi, First Abu Dhabi Bank, HSBC, National Bank of Bahrain, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, KFH Capital, and KIB Invest, acted as Stabilisation Managers.
Stabilisation activities are measures taken by underwriters to support the market price of a security after its initial offering to prevent or mitigate price declines. However, in this case, J.P. Morgan confirmed that no such measures were required, indicating a potentially stable or self-sustaining market demand for the Sukuk.
The issuance of these Sukuk, which are Sharia-compliant financial certificates similar to bonds in Western finance, reflects the continued growth and global interest in Islamic finance instruments. The successful offering without the need for stabilisation could be seen as a positive sign of investor confidence in the Sukuk market and the issuer’s financial standing.
This information is based on a press release statement and serves to inform interested parties of the completion and details of the CBB International Sukuk Programme Company W.L.L.’s securities offering. It is not an invitation or offer to purchase securities.
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