LONDON - Societe Generale (OTC:SCGLY) SA has made an announcement indicating that it may engage in stabilization activities for its securities. The bank, acting through its Stabilisation Coordinator Edouard Freton, disclosed that its Stabilisation Manager(s) from SG CIB could potentially carry out transactions to support the market price of the securities during the stabilization period.
The stabilization period for the unnamed securities, which are of an aggregate nominal amount described as EUR Benchmark, is expected to start today and could continue until March 19, 2025. These activities are in line with the rules set by the Commission Delegated Regulation (EU) 2016/1052 under the Market Abuse Regulation (EU/596/2014) and the UK FCA Stabilisation Binding Technical Standards.
Stabilization efforts, if initiated, aim to maintain the securities’ market price above levels that might otherwise prevail in the open market. However, there is no guarantee that stabilization will occur, and if commenced, it can be halted at any time.
The announcement clarified that the Stabilisation Manager(s) have the authority to over-allot securities as permitted by applicable law. This over-allotment is a common practice used to manage the price of new securities, often in conjunction with an initial public offering (IPO) or other securities issuance.
It is important to note that this information does not constitute an offer to underwrite, subscribe for, or acquire securities and is targeted at individuals outside the United Kingdom (TADAWUL:4280) or those within the UK with professional investment experience or who are high net worth entities.
Furthermore, the securities mentioned have not been and will not be registered under the United States Securities Act of 1933. As such, they may not be offered or sold in the United States absent registration or an exemption from registration, and there will be no public offering of the securities in the United States.
This statement is based on a press release issued by Societe Generale and is intended for informational purposes only. The London Stock Exchange (LON:LSEG)’s news service RNS, approved by the Financial Conduct Authority, provided the information.
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