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MILAN - Kepler SPA, also known as Biofarma, announced that a stabilization period for its €4.5 billion bond offering is expected to begin on June 25, 2025, according to a press release statement.
The stabilization period, which will be coordinated by BNP Paribas (OTC:BNPQY), is scheduled to run until August 9, 2025. Multiple financial institutions will serve as stabilization managers, including BNP Paribas, ING, Jeffries, SMBC, IMI-Intesa Sanpaolo, KCM, Natixis, and Nomura.
During this period, the stabilization managers may over-allot securities or conduct transactions to support the market price of the securities at levels higher than might otherwise prevail. The company noted that stabilization may not necessarily occur and any stabilization action could cease at any time.
The bond is described as a EUR 4.5NC1 offering, though the offer price has not yet been determined. The trading venue for stabilization activities will be over-the-counter (OTC).
The announcement specifies that any stabilization action or over-allotment will be conducted in accordance with applicable laws and rules. 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.
The press release also clarified that in the United Kingdom (TADAWUL:4280) and European Economic Area, the offering is directed only at qualified investors as defined by relevant regulations.
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