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LONDON - Societe Generale (OTC:SCGLY) SA has disclosed its role as Stabilisation Coordinator for NAVOI Mining and Metallurgical Company’s ("NMMC") recent securities offering, with the possibility of market stabilization actions beginning Thursday. The French multinational bank may engage in transactions to support the market price of the securities at levels above what might otherwise prevail during the stabilization period, which is expected to run until June 13, 2025.
The securities in question consist of a USD 500 million aggregate nominal amount, with a coupon rate of 6.75% and a maturity date set for May 30, 2030. The offer price has been set at 100.
Stabilization activities, which are common in new security offerings, aim to prevent or mitigate price volatility in the aftermath of an offering. The bank’s actions, if commenced, could include over-allotting the securities, which is permissible under applicable laws.
However, there is no guarantee that stabilization will occur, and if initiated, it may be discontinued at any time. The announcement made clear that these activities would be in full compliance with the relevant laws, including the Commission Delegated Regulation (EU) 2016/1052 under the Market Abuse Regulation (EU/596/2014) and the UK FCA Stabilisation Binding Technical Standards.
This information is intended for professional investors and high net worth individuals in the United Kingdom (TADAWUL:4280), in accordance with the Financial Services and Markets Act 2000. Furthermore, the announcement emphasizes that 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 registration or an exemption from registration. There will be no public offer of these securities in the United States.
The disclosure by Societe Generale serves as a procedural notice and does not constitute an offer to underwrite or acquire securities. The details provided in this article are based on a press release statement.
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